Answer:
(a) $4,740 (b) 18.96%
Step-by-step explanation:
An investment firm invested in two companies.
In company A they invested $11,000 and made a profit of 24%.
In company B they invested $14,000 and made a profit of 15%.
(a) We will calculate the firm's total profit :
In Company A profit = 24% of 11,000
= 0.24 × 11,000
= $2,640
In Company B profit = 15% of 14,000
= 0.15 × 14,000
= $2,100
Total profit = $2,640 + $2,100 = $4,740
(b) We will calculate the percent profit for their total investment.
Total investment = $25,000
Total profit = $4,740
Percentage =
= 18.96%