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Question 1147378: Kevin invested his savings in two investment funds. The $2000 that he invested in Fund A returned a 3% profit. The amount that he invested in Fund B returned a 10% profit. How much did he invest in Fund B, if both funds together returned a 8% profit?
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52781)   (Show Source):
You can put this solution on YOUR website! .
Let x be the amount invested at 10% interest (fund B).
Then the partial interests are 0.03*2000 (fund A) and 0.10*x (fund B).
The sum of partial interest is equal to the total interest, which is 0.08*(2000+x).
It gives you an equation
0.03*2000 + 0.1x = 0.08*(2000+x).
From this equation, express x and calculate
x =  = 5000.
ANSWER. The amount invested in Fund B was $5000.
Solved.
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It is a standard and typical problem on investments.
If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
Answer by greenestamps(13200)  (Show Source):
You can put this solution on YOUR website!
As an alternative to the traditional algebraic solution method shown by the other tutor, here is a quick and easy way to find the answer to a "mixture" problem like this.
(1) The overall profit 8% is 5/7 of the way from the 3% to the 10%. ( )
(2) That means 5/7 of the total amount was invested at the higher rate.
(3) So the $2000 invested at 3% was 2/7 of the total amount.
(4) So the amount invested at 10% was $5000.
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