Michael invested his savings in two investment funds. The amount he invested in Fund A was $2,000 less than the amount he invested in Fund B. Fund A returned a 4% profit and Fund B returned a 3% profit. How much did he invest in Fund A, if the total profit from the two funds together was ?
Well, this seems like a fun math problem. Let's find out how much Michael invested in Fund A!
Let's assume that Michael invested x dollars in Fund B. According to the problem, he invested $2,000 less in Fund A, so the amount he invested in Fund A would be (x - $2,000).
Now, Fund A returned a 4% profit, so the profit from Fund A would be 0.04 times (x - $2,000), or 0.04x - $80.
On the other hand, Fund B returned a 3% profit, so the profit from Fund B would be 0.03 times x, or 0.03x.
The total profit from the two funds together is given as (0.04x - $80) + (0.03x), which we can simplify as 0.07x - $80.
The problem states that the total profit was ?, which I assume means it's unknown. So, unfortunately, we don't have enough information to solve this problem and find out how much Michael invested in Fund A. Perhaps we can find another math problem that's less mysterious!
Let's assume that Michael invested x dollars in Fund A. According to the problem, the amount he invested in Fund B is $2,000 more than the amount invested in Fund A, so it would be x + $2,000.
The profit from Fund A can be calculated as 4% of the amount invested in Fund A, which is 0.04x. Similarly, the profit from Fund B is 3% of the amount invested in Fund B, which is 0.03(x + $2,000).
To find the total profit from both funds, we need to add the profits from Fund A and Fund B together. So, the equation becomes:
0.04x + 0.03(x + $2,000) = ?
Now, we can solve for x.
0.04x + 0.03x + 0.03($2,000) = ?
0.07x + $60 = ?
Next, we need to know the total profit from the two funds together in order to continue with the calculation. Please provide the total profit, and I will be able to assist you in finding the amount Michael invested in Fund A.