SOLUTION: Sung 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 2% profit and Fund B
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Question 526346: Sung 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 2% profit and Fund B returned a 4% profit. How much did he invest in Fund A, if the total profit from the two funds together was $1440?
I do not get this problem help please?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Sung 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 2% profit and Fund B returned a 4% profit. How much did he invest in Fund A, if the total profit from the two funds together was $1440?
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Let amt. invested in B = "x".
The amt. invested in A = "4x"
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Equation:
interest + interest = interest
0.02(4x) + 0.04(x) = 1440
Multiply thru by 100 to get:
2(4x) + 4(x) = 144000
12x = 144000
x = $12,000 (amt invested in B)
4x = $48,000 (amt. invested in A)
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Cheers,
Stan H.
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