Problema Solution
Susan Marciano invested part of her 38,000 bonus in fund that paid a 10% profit and invested the rest in stock that suffered a 3%loss. Find the amount of each investment if her overall net profit was 1,460.
The amount invested at 10% is ?
The amount invested in stock is?
Answer provided by our tutors
let
x = the amount invested at 10%
y = the amount invested in stock
x + y = total money invested
x + y =$38,000
10% of x profit - 3% of y loss = overall net profit $1,460
0.1*x - 0.03*y = 1460
by solving the system of equations
x + y = 38000
0.1*x - 0.03*y = 1460
we find
x = $20,000
y = $18,000
The amount invested at 10% is $20,000.
The amount invested in stock is $18,000.