Problema Solution
Bob invested his savings in two investment funds. The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B. Fund A returned a 7% 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 $2480?
Answer provided by our tutors
Fund A: 4x
Fund B: x
So the equation is
7%*4x + 3%*x = 2480
So
x = 8000
So he invested $32,000 in Fund A