John invested his savings in two investment funds. The amount he invested in Fund A was
$8000
less than the amount he invested in Fund B. Fund A returned a
4%
profit and Fund B returned a
8%
profit. How much did he invest in Fund B, if the total profit from the two funds together was
$1360
?
If he invested $x in B, then just add up the interest:
.04(x-8000) + .08x = 1360
To solve this problem, we need to set up a system of equations based on the given information.
Let's represent the amount John invested in Fund B as "x".
According to the problem, the amount invested in Fund A is $8000 less than the amount invested in Fund B. So, the amount invested in Fund A can be represented as "x - $8000".
Now, we can calculate the profit from Fund A and Fund B using the respective percentages:
Profit from Fund A = (4/100) * (x - $8000) = 0.04(x - $8000)
Profit from Fund B = (8/100) * x = 0.08x
According to the problem, the total profit from the two funds together is $1360:
0.04(x - $8000) + 0.08x = $1360
Now, we can solve this equation to find the value of "x":
0.04x - $320 + 0.08x = $1360
0.12x - $320 = $1360
0.12x = $1360 + $320
0.12x = $1680
To isolate "x", we divide both sides of the equation by 0.12:
x = ($1680) / (0.12)
Calculating this expression, we find that John invested $14,000 in Fund B.
Let's assume the amount John invested in Fund B as "x" dollars.
According to the given statement, the amount he invested in Fund A is $8000 less than the amount in Fund B, which means the amount in Fund A is (x - $8000) dollars.
Now, let's calculate the profit from each fund:
Profit from Fund A = (4/100) * (x - $8000) = (0.04) * (x - $8000) dollars
Profit from Fund B = (8/100) * x = (0.08) * x dollars
According to the given information, the total profit from both funds is $1360. So, we can set up the following equation:
(0.04) * (x - $8000) + (0.08) * x = $1360
Simplifying the equation:
0.04x - $320 + 0.08x = $1360
0.12x - $320 = $1360
0.12x = $1360 + $320
0.12x = $1680
Dividing both sides by 0.12:
x = $1680 / 0.12
x = $14000
Therefore, John invested $14000 in Fund B.