SOLUTION: A man invested a total of $22000 in two investments. He made a profit of 7% on the first investment and 2% on the second investment. If his total profit was $920, what was the amou
Algebra.Com
Question 632517: A man invested a total of $22000 in two investments. He made a profit of 7% on the first investment and 2% on the second investment. If his total profit was $920, what was the amount of each investment?
a) to answer this question, let x denote the amount of the first investment.Since the total invested was $22,000 what was the amount of the second investment(in terms of x)?
b) in terms of x, what is the 7% of the first investment?
c) in terms of x, what is the 2% of the second investment?
d) write an equation that says the sum of your last two answers is equal to $920.
-Solve this equation.
e)what was the amount of each investment?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A man invested a total of $22000 in two investments. He made a profit of 7% on the first investment and 2% on the second investment. If his total profit was $920, what was the amount of each investment?
a) to answer this question, let x denote the amount of the first investment.Since the total invested was $22,000 what was the amount of the second investment(in terms of x)?
Ans: 22,000-x
-----------------------
b) in terms of x, what is the 7% of the first investment?
Ans: 0.07x
------------------------------
c) in terms of x, what is the 2% of the second investment?
Ans: 0.02(22,000-x)
---------------------------------
d) write an equation that says the sum of your last two answers is equal to $920.
0.07x + 0.02(22,000-x) = 920
-Solve this equation.
7x + 2*22,000 -2x = 92000
5x = 48,000
x = $9,600
22,000-x = $12,400
=====================
Cheers,
Stan H.
============
e)what was the amount of each investment?
RELATED QUESTIONS
John made two investments totaling $25,000. On one investment he made a 12% profit. On... (answered by Theo,MathTherapy)
Les invested a total of $25000 in two pieces of property last year. He made a profit of... (answered by jim_thompson5910)
One year a couple invested a total of $10,000 in two projects. The first investment , a... (answered by ReadingBoosters)
An investment banker received a bonus and invested that money in two investments. He put... (answered by solver91311)
A man has three sums of money invested, one at 4 per cent, one at 3 1/2 per cent, and one (answered by josmiceli)
A woman invested 25000$ in 2 business ventures. Last year she made a profit of 15% from... (answered by stanbon)
total investment = $3000 in two investment
made 3% on the first investment and 4% on the (answered by checkley77)
Bulah invested $2000 altogether. She made a profit of 15% on one investment, but lost 3% (answered by checkley75)