Question 498807
price of land was x
.8 * x was set aside.
he invested .25 * .8 * x in a business venture that earned 157 by the end of the year.
he invest .75 * .8 * x in a business venture that earned 20% by the end of the year.
his total earnings were 9,000
what was the selling price of the land?
his total earnings were:
157 from investment A
.20 * .75 * .8 * x from investment B
his total earnings were 9000
this means that:
157 + (.20 * .75 * .8 * x) = 9000
subtract 157 from both sides of this equation to get:
.20 * .75 * .8 * x = 8843
simplify this to get:
.12 * x = 8843
divide both sides of this equation by .12 to get:
x = 73691.67
that's the selling price of the land.
80% of that was set aside for investment.
that would be equal to 58953.33333
25% of that was invested and earned 157 dollars.
75% of that was invested and earned 20%.
.75 * 58953.3333 = 44215 that earned 20%.
this means that 44215 earned 8843
total earnings were 9000
157 + 8843 = 9000
your answer is that the selling price of the land was $73,691.67