Question 1801: chris has invested $2,300 in two small businesses. last year, the greeting card business made a 14% profit on her investment in the business, while the bicycle repair business showed a 6% loss. if chris' net profit from the two businesses was $102, her investment in the greeting card business was $____?
Answer by longjonsilver(2297)   (Show Source):
You can put this solution on YOUR website! first, some definitions...
Let g be the amount invested in the greeting card business
Let b be the amount invested in the bicycle repair business.
So, what do we know?
Well, first the amounts invested added up to $2300, so  in one equation.
What else?
g made a profit of 14%. 14% means 14 OUT OF 100...PERCENT ie 14/100 ie 0.14. So the profit is 0.14g.
b made a loss of 6%. 6% means 6 OUT OF 100 ie 6/100 ie 0.06. So, the loss is 0.06b.
Together, these gave Chris a total return of $102, so
0.14g - 0.06b = 102.
Note the negative sign, because the bicycle place was a loss.
So, 2 equations...2 unknowns...simultaneous equation time. You solve those.
Answers...b=1100, g=1200. Hopefully, from my definitions, this will answer your question.
cheers
Jon.
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