SOLUTION: Sam invested part of his 10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall ne

SOLUTION: Sam invested part of his 10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall ne

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Question 236094: Sam invested part of his 10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall net profit was 650?
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Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
.11x-.04(10000-x)=650
.11x-400+.04x=650
.15x=1050
x=$7000 at 11%
$3000 at 4%
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