SOLUTION: Carlos invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 3% profit and Fun

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Carlos invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 3% profit and Fun      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 460498: Carlos invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 3% profit and Fund B returned a 2% profit. How much did he invest in Fund B, if the total profit from the two funds together was $1540 ? .
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
Carlos invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 3% profit and Fund B returned a 2% profit. How much did he invest in Fund B, if the total profit from the two funds together was $1540 ? .
.
Let x = amount ($) invested in Fund B
then
4x = amount ($) invested in Fund A
.
.02x + .03(4x) = 1540
.02x + .12x = 1540
.14x = 1540
x = 1540/.14
x = $11000 (invested in Fund B)
.
Fund A:
4x = 4(11000) = $44000