Question

An investment firm invested in two companies last year. They invested $8000 in Company A and made a profit of 11%. They invested $24,000 in Company B and made a profit of 13%. What was the investment firm's total profit?

Answer 1

Answer:

The investment firm's total profit is $4,000

Step-by-step explanation:

The Profit from Company A = 11% * $8,000

= 11 * $8,000/100

= $880

The Profit from Company B = 13% * $24,000

= 13 * $24,000/100

= $3,120

The total profit = $880 + $3120

= $4,000

Thus, the investment firm's total profit is $4,000