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Eric invested his savings in two investment funds.
The amount he invested in Fund A was 7000 less than 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 $910?
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Let x be the amount invested in fund B, in dollar.
then the amount invested in fund A was (x-7000) dollars.
Write the total interest equation
0.05(x-7000) + 0.02x = 910 dollars.
Simplify it and find x
0.05x - 350 + 0.02x = 910
0.05x + 0.02x = 910 + 350
0.07x = 1260
x = 1260/0.07 = 18000.
ANSWER. The amount invested in fund B was 18000 dollars.
Solved.