SOLUTION: Pablo invested his savings in two investment funds. The $15,000 that he invested in Fund A returned a 10% profit. The amount that he invested in Fund B returned a 3% profit. How mu
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-> SOLUTION: Pablo invested his savings in two investment funds. The $15,000 that he invested in Fund A returned a 10% profit. The amount that he invested in Fund B returned a 3% profit. How mu
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Question 1098629: Pablo invested his savings in two investment funds. The $15,000 that he invested in Fund A returned a 10% profit. The amount that he invested in Fund B returned a 3% profit. How much did he invest in Fund B, if both funds together returned a 8% profit? Answer by ikleyn(52884) (Show Source):
Let x be the amount invested in fund B (the value under the question).
Fund A returned 0.1*15000 dollars, according to the condition.
Fund B returned 0.03*x dollars.
Taken together, the total return is 0.1*15000 + 0.03*x dollars.
From the other side, you are given that it is actually 0.08 of the total investment, which was (15000 + x) dollars.
It gives you an equation
0.1*15000 + 0.03x = 0.08*(15000+x).
Simplify and solve for x:
1500 + 0.03x = 1200 + 0.08x ====> 1500 - 1200 = 0.08x - 0.03x ====> 0.05x = 300 ====> x = = 6000.
Check. 0.1*15000 + 0.03*6000 = 1680.
0.08*(15000+6000) = 1680. ! Correct !
Answer. Pablo invested $6000 in fund B.
