document.write( "Question 1121591: Problem Page
\n" ); document.write( "Tony invested his savings in two investment funds. The amount he invested in Fund A was $5000 less than the amount he invested in Fund B. Fund A returned a 6% profit and Fund B returned a 7% profit. How much did he invest in Fund B, if the total profit from the two funds together was $2300?
\n" ); document.write( "? \n" ); document.write( "

Algebra.Com's Answer #737535 by ikleyn(52800) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "

\r\n" );
document.write( "Let x = the amount invested in fund A at 6%  and\r\n" );
document.write( "\r\n" );
document.write( "let y = the amount invested in fund B at 7%.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then your first equation is\r\n" );
document.write( "\r\n" );
document.write( "    y - x = 5000.                              (1)\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Fund A returned  0.06*x dollars;  fund B returned 0.07*y dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "So, you second equation is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    interest + interest = total interest,    or\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    0.06x    + 0.07y    = 2300     dollars     (2)   \r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "From equation (1) express y = 5000+x  and substitute it into equation (2), replacing y:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    0.06x + 0.07*(5000+x) = 2300.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Sinplify and solve for x:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    0.06x + 350 + 0.07x = 2300\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    0.13x = 2300 - 350 = 1950  ====>  x =  = 15000.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Answer.  The amount invested in fund A is  $15000;  the amount invested in fund B  is 5000 more, i.e.  $20000.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Check.  0.06*15000 + 0.07*20000 = 2300 dollars.   ! Correct !\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "----------------------\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems on investment, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Using systems of equations to solve problems on investment\r
\n" ); document.write( "\n" ); document.write( "in this site.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
\n" ); document.write( "different methods of solution to the equations (Substitution, Elimination).\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Systems of two linear equations in two unknowns\".\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );