SOLUTION: Chris has invested $2,300 in two small businesses. Last year, the greeting card business made 14% profit on her investment on the business, while the bicycle repair business showed
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Question 469134: Chris has invested $2,300 in two small businesses. Last year, the greeting card business made 14% profit on her investment on the business, while the bicycle repair business showed a 6% loss. If her net profit from the two businesses was a $102, her investment in the greeting car business was how much? Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! x + y = 2300
x = amount of money invested in greeting card business
y = amount of money invested in bicycle repair business.
.14*x - .06*y = 102
solve these 2 equations simultaneous and you'll get your answer.
use substitution.
y = 2300 - x
substitute for y in the second equation to get:
.14*x - .06(2300-x) = 102
remove parentheses to get:
.14*x - .06*2300 + .06*x = 102
combine like terms and simplify to get:
.20*x - 138 = 102
add 138 to both sides to get:
.20*x = 102 + 138 = 240
divide both sides by .20 to get:
x = 240/.20 = 1200
since x + y = 2300, then y = 1100
x + y = 1200 + 1100 = 2300
.14*x - .06*y = .14*1200 - .06*1100 = 168 - 66 = 102
everything checks out so that's your answer.
she invested 1200 into greeting card business and she made 168 which is 14% of 1200.
she invested 1100 into bicycle repair business and she lost 66 dollars which is 6% of 1100.
