Question 632517: A man invested a total of $22000 in two investments. He made a profit of 7% on the first investment and 2% on the second investment. If his total profit was $920, what was the amount of each investment?
a) to answer this question, let x denote the amount of the first investment.Since the total invested was $22,000 what was the amount of the second investment(in terms of x)?
b) in terms of x, what is the 7% of the first investment?
c) in terms of x, what is the 2% of the second investment?
d) write an equation that says the sum of your last two answers is equal to $920.
-Solve this equation.
e)what was the amount of each investment?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A man invested a total of $22000 in two investments. He made a profit of 7% on the first investment and 2% on the second investment. If his total profit was $920, what was the amount of each investment?
a) to answer this question, let x denote the amount of the first investment.Since the total invested was $22,000 what was the amount of the second investment(in terms of x)?
Ans: 22,000-x
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b) in terms of x, what is the 7% of the first investment?
Ans: 0.07x
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c) in terms of x, what is the 2% of the second investment?
Ans: 0.02(22,000-x)
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d) write an equation that says the sum of your last two answers is equal to $920.
0.07x + 0.02(22,000-x) = 920
-Solve this equation.
7x + 2*22,000 -2x = 92000
5x = 48,000
x = $9,600
22,000-x = $12,400
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Cheers,
Stan H.
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e)what was the amount of each investment?
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