Answer:
$80,000
Step-by-step explanation:
<u>Define the variables</u>:
Let x = "fish-flavored" chicken company investment (in dollars)
Let y = spray-on vitamins company investment (in dollars)
If Allen invested a total of $100,000:
⇒ x + y = 100000
Given:
- 3% profit on "fish-flavored" chicken investment
- 1% profit on pray-on vitamins investment
- Total profit = $2,600
⇒ 0.03x + 0.01y = 2600
Rewrite the first equation to make y the subject:
⇒ y = 100000 - x
Substitute into the second equation and solve for x:
⇒ 0.03x + 0.01(100000 - x) = 2600
⇒ 0.03x + 1000 - 0.01x = 2600
⇒ 0.02x + 1000 = 2600
⇒ 0.02x = 1600
⇒ x = 80000
Therefore, Allen invested $80,000 in the "fish-flavored" chicken company.
