SOLUTION: Tom invested his savings in two investment funds. The amount he invested in Fund A was $8000 less than the amount he invested in Fund B. Fund A returned a 3% profit and Fund B r

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Question 907917: Tom invested his savings in two investment funds. The amount he invested in Fund A was $8000 less than the amount he invested in Fund B. Fund A returned a
3% profit and Fund B returned a 6% profit. How much did he invest in Fund A, if the total profit from the two funds together was $1830
?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
We don't know the total invested. We know the difference in the two accounts.
We know that the interest for the two accounts is $1830
0.06*x+0.03*y=1830
We know that the account at 6% has $8000 more.
x=8000+y
We substitute for x
0.06*(8000+y)+0.03*y=1830
We multiply out
480+0.06y+0.03*y=1830
We combine like terms.
0.09*y=1350
Isolate y
y=$15000 at 3%
x=8000+y
Calculate x
x=$23000 at 6%
Total invested $23000+$15000=$38000
We check
0.06*23000+0.03*15000=1830
1380+450=1830
1830=1830
Since this statement is TRUE then it is ok