Question

Melissa invested her savings in two investment funds. The amount she invested in Fund A was $6000 less than the amount she invested in Fund B. Fund A returned a 3% profit and Fund B returned a 8% profit. How much did she invest in Fund B, if the total profit from the two funds together was $2130?

Answer 1

Answer:

$21,000

Explanation:

Let the amount invested in Fund B be T

Given that amount she invested in Fund A was $6000 less than the amount she invested in Fund B, Amount invested in Fund A

= $(T - 6000)

If Fund A returned a 3% profit and Fund B returned a 8% profit and the total profit from the two funds together was $2130, then

3% × (T - 6000) + 8% × T = 2130

(3T - 18000)/100 + 8T/100 = 2130

11T - 18000 =213000

11T = 213000 + 18000

11T = 231000

T = 231000/11

T = $21,000