SOLUTION: A businessman invested $12000 in two ventures. In one he made a profit of 8% and in the other he lost 4%. His net profit for the year was $120. How much did he invest in each ventu
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A businessman invested $12000 in two ventures. In one he made a profit of 8% and in the other he lost 4%. His net profit for the year was $120. How much did he invest in each ventu
Log On
Question 339756: A businessman invested $12000 in two ventures. In one he made a profit of 8% and in the other he lost 4%. His net profit for the year was $120. How much did he invest in each venture. I KNOW THE ANSWER BY GUESSING, BUT I NEED AN EQUATION TO ACTUALLY SHOW HOW I DID IT. Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! A businessman invested $12000 in two ventures. In one he made a profit of 8% and in the other he lost 4%. His net profit for the year was $120. How much did he invest in each venture.
.
Let x = amount invested at 8%
then
12000-x = amount invested at 4%
.
.08x - .04(12000-x) = 120
.08x - 480+.04x = 120
.12x - 480 = 120
.12x = 600
x = $5000 (amount invested at 8%)
.
amount invested at 4%:
12000-x = 12000-5000 = $7000
