Problema Solution
Ryan invested his savings in two investment funds.The $8000 dollars 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 return an 8% profit.
Answer provided by our tutors
let
x = the money invested in fund B, x>0
0.03*8000 + 0.10x = 0.08(8000 + x)
by solving we find:
x = $20,000
click here to see the step by step solution of the equation:
Ryan invested $20,000 in fund B.