Question

Jessica invested her savings in two investment funds. The amount she invested in Fund A was $8000 less than the amount she invested in Fund B. Fund A returned a 2% profit and Fund B returned a 8% profit. How much did she invest in Fund B, if the total profit from the two funds together was $2140

Answer 1

To solve this problem, we can set up a system of equations to represent the amounts invested in Fund A and Fund B. By calculating the profits from each fund and setting up an equation, we can find the value of x, representing the amount invested in Fund B.

Step-by-step explanation:

To solve this problem, we can set up a system of equations. Let's represent the amount invested in Fund B as 'x'.

Since the amount invested in Fund A is $8000 less than the amount invested in Fund B, we can represent the amount invested in Fund A as 'x - 8000'.

The profit from Fund A can be calculated by multiplying the amount invested in Fund A by the profit rate of 2%: 0.02(x - 8000).

Similarly, the profit from Fund B can be calculated by multiplying the amount invested in Fund B by the profit rate of 8%: 0.08x.

According to the problem, the total profit from the two funds together is $2140. So we can set up the equation: 0.02(x - 8000) + 0.08x = 2140.

Solving this equation will give us the value of x, which represents the amount invested in Fund B.