Post a New Question

math

posted by .

Aldo invested his savings in two investment funds. The $24, 000that he invested in Fund A returned a 1% profit. The amount that he invested in Fund B returned a 5% profit. How much did he invest in Fund B, if both funds together returned a 2% profit?

  • math -

    $X in plan A @ 1% profit.
    $(24000-X) in plan B @ 5% profit.

    1.01x + 1.05(24000-x) = 1.02*24000,
    1.01x + 25,200 - 1.05x = 24,480,
    -0.04x = 24,480 - 25,200 = -720,
    X = $18,000 Invested in fund A.

    24000 - x = 24000 - 18,000 = $6,000 Invested in fund B.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question