Question 1151774: Lucy invested her savings I'm two investment funds. The $15,000 that she invested in fund A returned a 10% profit. The amount that she invested I'm Fund B returned a 3% profit. How much did she invest in Fund B, if both funds together returned a 8% profit
Answer by jim_thompson5910(35256)   (Show Source):
You can put this solution on YOUR website!
Chart
In the bottom row, the highlighted cells will help us form an equation to solve for x.
The product of the blue and green cells is
(15000+x)*0.08
or
0.08(15000+x)
Note how I'm using the decimal form of 8%
The product of the blue and green cells is equal to the yellow cell, which is the total profit we want.
Solve for x
0.08(15000+x) = 1500+0.03x
0.08(15000)+0.08(x) = 1500+0.03x
1200+0.08x = 1500+0.03x
0.08x-0.03x = 1500-1200
0.05x = 300
x = 300/0.05
x = 6000
Answer: Lucy will need to invest $6,000 in fund B.
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Check:
The total amount invested is 15,000+6,000 = 21,000
Take 8% of this: 0.08*21,000 = 1,680
Fund A returns 10% on $15,000 invested, so it returns 0.10*15,000 = $1,500
Fund B returns 3% on $6,000 invested, so it returns 0.03*6000 = $180
In total, 1500+180 = 1680 is returned, which matches with the result we got above.
Here is the updated chart
Side note: it does not make sense to add the percentages for funds A and B
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