SOLUTION: Susan invested part of her $23,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if her overal
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Question 665477: Susan invested part of her $23,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if her overall profit was $1930.00 Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Fund 11.00% per annum ------------- Amount invested =x
Stock -4.00% per annum ------------ Amount invested = y
23000
Interest----- 1930
Fund 11.00% per annum ---x
Stock -4.00% per annum ---y
Total investment
x + y= 23000 -------------1
Profit on both investments
11.00% x -4.00% y= 1930
Multiply by 2
11 x -4 y= 193000.00 --------2
Multiply (1) by -11
we get
-11 x -11 y= -253000.00
Add this to (2)
0 x -15 y= -60000
divide by -15
y = 4000
Fund 11.00% $ 19000
Stock -4.00% $ 4000
