Greg invested his savings in two investment funds. The amount he invested in Fund A was
3
times as much as the amount he invested in Fund B. Fund A returned a
6%
profit and Fund B returned a
7%
profit. How much did he invest in Fund B, if the total profit from the two funds together was
$2250
?
amount in B -- x
amount in A -- 3x
.06(3x) + .07x = 2250
.18x + .07x = 2250
.25x = 2250
x = 9000
so $9000 in B and $27,000 in A
Let's assume that Greg invested x dollars in Fund B. According to the problem, the amount he invested in Fund A was 3 times the amount he invested in Fund B, so he invested 3x dollars in Fund A.
Now, let's calculate the profit from each fund:
- Fund A returned a 6% profit, which means Greg earned 6% of the amount he invested in Fund A. This is equal to 0.06 * 3x = 0.18x dollars.
- Fund B returned a 7% profit, which means Greg earned 7% of the amount he invested in Fund B. This is equal to 0.07 * x = 0.07x dollars.
The total profit from both funds is given as $2250, so we can write the equation:
0.18x + 0.07x = 2250
Now, let's solve the equation to find the value of x:
0.18x + 0.07x = 2250
0.25x = 2250
x = 2250 / 0.25
x = 9000
Therefore, Greg invested $9000 in Fund B.