math

Aldo invested his savings in two investment funds. The $24, 000that he invested in Fund A returned a 1% profit. The amount that he invested in Fund B returned a 5% profit. How much did he invest in Fund B, if both funds together returned a 2% profit?

asked by George
  1. $X in plan A @ 1% profit.
    $(24000-X) in plan B @ 5% profit.

    1.01x + 1.05(24000-x) = 1.02*24000,
    1.01x + 25,200 - 1.05x = 24,480,
    -0.04x = 24,480 - 25,200 = -720,
    X = $18,000 Invested in fund A.

    24000 - x = 24000 - 18,000 = $6,000 Invested in fund B.

    posted by Henry

Respond to this Question

First Name

Your Answer

Similar Questions

  1. Math

    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
  2. math

    Carlos 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 8% profit and Fund B returned a 4% profit. How much did he invest in
  3. algebra

    Goran invested his savings in two investment funds. The amount he invested in fund A was$2000 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
  4. Algebra

    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
  5. algebra

    Kevin invested his savings in two investment funds. The amount he invested in Fund A was $3000 less than the amount he invested in Fund B. Fund A returned a 8% profit and Fund B returned a 5% profit. How much did he invest in Fund
  6. Algebra

    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
  7. College Algebra

    John invested his savings in two investment funds. The $12,000 that he invested in Fund A returned a 3% profit. The amount that he invested in Fund B returned a 10% profit. How much did he invest in Fund B, if both funds together
  8. math

    Keisha invested her savings in two investment funds. The $4000 that she invested in Fund A returned a 10% profit. The amount that she invested in Fund B returned a 3% profit. How much did she invest in Fund B, if both funds
  9. Algebra

    Dale invested his savings in two investment funds. The $12,000 that he invested in Fund A returned a 1% profit. The amount that he invested in Fund B returned a 6% profit. How much did he invest in Fund B, if both funds together
  10. Math

    Salma invested her savings in two investment funds. The that she invested in Fund A returned a profit. The amount that she invested in Fund B returned a profit. How much did she invest in Fund B, if both funds together returned a

More Similar Questions