John invested his savings in two investment funds. The $12,000 that he invested in Fund A returned a 3% profit. The amount that he invested in Fund B returned a 10% profit. How much did he invest in Fund B, if both funds together returned a 6% profit?
5400
16000
To solve this problem, we can set up an equation based on the information given.
Let's assume that John invested an amount x in Fund B.
According to the information given, John invested $12,000 in Fund A and the profit from Fund A was 3%. So, the profit from Fund A is (3/100) * $12,000 = $360.
The total profit earned from both funds combined is 6% of the total investment. Therefore, the total profit is (6/100) * (x + $12,000).
Now we can set up the equation:
$360 + (6/100) * (x + $12,000) = x * (10/100)
Let's solve this equation to find the value of x:
$360 + (6/100) * (x + $12,000) = (10/100) * x
Multiply both sides of the equation by 100 to eliminate the fractions:
36000 + 6(x + $12,000) = 10x
Distribute the 6 to both terms inside the parentheses:
36000 + 6x + 72000 = 10x
Combine like terms:
6x + 72000 = 10x - 36000
Subtract 6x and 10x from both sides:
72000 - 36000 = 10x - 6x
36000 = 4x
Divide both sides by 4:
36000/4 = x
x = 9000
Therefore, John invested $9,000 in Fund B.
if there is x at 10%, the remainder (12000-x) is at 3%. So, add up the interest:
.10x + .03(12000-x) = .06(12000)