Larry invested a total of $5000 in three stocks during the first year the first stock increasing value by 8% the second stock increase by 6% and the third stock increase by 1% in the first year he earn a profit $310 if Larry invested the same amount in the stock that increased by 6% as he invested in the stock that increased by 1% how much did he invest in the stock?

Question

Larry invested a total of $5000 in three stocks during the first year the first stock increasing value by 8% the second stock increase by 6% and the third stock increase by 1% in the first year he earn a profit $310 if Larry invested the same amount in the stock that increased by 6% as he invested in the stock that increased by 1% how much did he invest in the stock?

Answer 1

Let the amounts at 1,6,8% be x,y,z. We have:

x+y+z = 5000
.01x + .06y + .08z = 310
x = y

Now just solve for x,y,z

Answer 2

To find out how much Larry invested in the stock that increased by 6%, we can set up an equation using the information given:

Let's assume that Larry invested the same amount in the stock that increased by 6% as he did in the stock that increased by 1%. So, the amount invested in the stock that increased by 6% will be denoted by 'x'. Thus, the investment in the stock that increased by 1% will also be 'x'.

Now let's calculate the profits earned from each stock:

Profit from the stock that increased by 8% = 5000 * 0.08 = $400
Profit from the stock that increased by 6% = x * 0.06
Profit from the stock that increased by 1% = x * 0.01

According to the problem, the total profit earned by Larry from all three stocks is $310. So, we can set up the equation:

400 + (x * 0.06) + (x * 0.01) = 310

Now, we can solve this equation to find the value of 'x':

400 + 0.06x + 0.01x = 310
0.07x + 400 = 310
0.07x = 310 - 400
0.07x = -90
x = -90 / 0.07

Calculating this, we find that x = -1285.71

However, it doesn't make sense to have a negative investment amount. Therefore, we cannot find the exact amount invested in the stock that increased by 6%.