SOLUTION: Kevin invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 5% profit and Fund B

Algebra ->  Proportions -> SOLUTION: Kevin invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 5% profit and Fund B      Log On


   

Question 988494: Kevin invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 5% profit and Fund B returned a 2% profit. How much did he invest in Fund B, if the total profit from the two funds together was $1320?
Amount invested in fund b:$__
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
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Kevin invested his savings in two investment funds.
The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B.
Fund A returned a 5% profit and Fund B returned a 2% profit.
How much did he invest in Fund B, if the total profit from the two funds together was $1320?
:
let x = amt invested in the B fund
"The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B." therefore
4x = amt invested in the A fund
:
.05(4x) + .02x = 1320
.20x + .02x = 1320
.22x = 1320
x = 1320/.22
x = $6000 in the B fund
:
:
Confirm this by finding the amt in the A fund, find the total interest
4(6000) = 24000
.05(24000) + .02(6000) =
1200 + 120 = 1320