Question 1196208: Mai invested her savings in two investment funds. The $8000 that she invested in Fund A returned a 1% profit. The amount that she invested in Fund B returned a 5% profit. How much did she invest in Fund B, if both funds together returned a 4% profit?
Found 2 solutions by amoresroy, greenestamps:
Answer by amoresroy(361)   (Show Source):
You can put this solution on YOUR website! Let B = Money invested in Fund B
The problem says:
8000(.01) + B(.05) = .04 (8,000 + B)
Simplify and Find B
80 + .05B = 320 + .04B
.05B - .04B = 320 - 80
.01B = 240
B = $24,000 Answer
Solved.
Answer by greenestamps(13203)  (Show Source):
You can put this solution on YOUR website!
The solution from the other tutor shows a typical formal algebraic method for solving the problem.
Here is a less formal method that can be used to solve any 2-part "mixture" problem like this. This method is especially quick and easy if the numbers are "nice".
The two funds separately returned profits of 1% and 5%; the overall profit was 4%.
That 4% is 3/4 of the way from 1% to 5%. (look at the three numbers 1, 4, and 5 on a number line to see that, if it helps.)
That means 3/4 of the total was invested at the higher rate.
Since 3/4 was invested at the higher rate, the $8000 invested at the lower rate was 1/4 of the total; that means 3/4 of the total (the amount invested at the higher rate) was 3($8000) = $24,000.
ANSWER: $24,000
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