Question

Ryan invested his savings in two investment funds. The $24,000 that he invested in Fund A returned a 6% profit. The amount that he invested in Fund B returned a 2% profit. How much did he invest in Fund B, if both funds together returned a 5% profit?

Answer 1

Answer:

the sum invested in Fund b is $6000

Step-by-step explanation:

This question can be easily solved using allegation Method.

Profit on fund A is 6% whereas Profit on fund B is 2%.

Fund A + Fund B= $24000

Overall profit to be gained = 5%

                             6%            2%

                                      5%

                             3       :          1

therefore the fund was distributed in the ratio 3:1

⇒4 units= 24000

⇒ 1 unit = $6000

therefore the fund A = 3×6000=$ 18000

and the fund B= 1×6000= $6000