SOLUTION: Lena invested her savings in two investment funds. The amount she invested in Fund A was
$8000
less than the amount she invested in Fund B. Fund A returned a
3%
profit and
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-> SOLUTION: Lena invested her savings in two investment funds. The amount she invested in Fund A was
$8000
less than the amount she invested in Fund B. Fund A returned a
3%
profit and
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Question 1120983: Lena invested her savings in two investment funds. The amount she invested in Fund A was
$8000
less than the amount she invested in Fund B. Fund A returned a
3%
profit and Fund B returned a
7%
profit. How much did she invest in Fund B, if the total profit from the two funds together was
$1960
?
Let x = "How much did she invest in Fund B".
Then the amount she invested in fund A was (x-8000) dollars.
Fund A returned 0.03*(x-8000) dollars.
Fund B returned 0.07*x dollars.
According to the condition,
0.03*(x-8000) + 0.07x = 1960.
Simplify and solve for x.
0.03x - 0.03*8000 + 0.07x = 1960
0.1x = 1960 + 240
0.1x = 2200 ====> x = = 22000.
Answer. $22000 was invested in fund B.
Check. 0.03*(22000 - 8000) + 0.07*22000 = 1960 dollars. ! Correct !
Solved.
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It is a typical and standard problem on investment.
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).
