Question

Susan Marciano invested part of her 28,000 bonus in a 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 2,410

Answer 1

Answer:

amount invested in funds that earned 10% is $25,000, while the amount invested in stock that suffered 3% loss $3,000.

Step-by-step explanation:

Let x be the amount invested in funds that earned 10%.

Then the amount invested in stock that suffered 3% loss is 28,000 - x.

The profit from investment in funds is 10%x

The loss from investment in stock is 3%(28,000 - x).

The net profit is 10%x - 3%(28,000 - x).

As the net profit given in the problem is $2410, we have:

10%x - 3%(28,000 - x) = 2410

Solving for x, we have:

10x - 3(28,000 - x) = 241000 (multiply both sides by 100)

10x - 84000 + 3x = 241000

13x = 241000+84000

13x = 325000

x = 325000/13

x = 25,000

So

the amount invested in funds that earned 10% is $25,000.

the amount invested in stock that suffered 3% loss is 28,000 - x = 28000 - 25000 = $3,000.