Homework Help: math

Posted by George on Wednesday, October 26, 2011 at 2:49pm.

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 - Henry, Thursday, October 27, 2011 at 8:05pm
$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.

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