Deon invested his savings in two investment funds. The amount he invested in Fund A was 5000 less than the amount he invested in Fund B. Fund A returned a 3% profit and Fund B returned a 2% profit. How much did he invest in Fund B, if the total profit from the two funds together was 500?
amount invested in B ---- x
amount invested in A ---- x-5000
.03x + .02(x-5000) = 500
solve for x
To find out how much Deon invested in Fund B, we can set up the following equations:
Let x be the amount Deon invested in Fund B.
Then, the amount Deon invested in Fund A would be x - 5000 (since it is 5000 less than Fund B).
The profit from Fund A can be calculated as: (x - 5000) * 3% = 0.03(x - 5000)
The profit from Fund B can be calculated as: x * 2% = 0.02x
According to the problem, the total profit from both funds is 500. So we can set up the equation:
0.03(x - 5000) + 0.02x = 500
Now, we can solve this equation to find the value of x, which represents the amount Deon invested in Fund B.