Word Problem I need help to set up the equation

Question

Osborne invested $17000 in stocks and bonds.  if he made a 10% profit on his stocks and a 7% profit on his bonds, and the combined profit was $1,280, how much did Osborne invest in stocks?

 

I have no idea how to set up this equation

Answer 1

Word Problem I need help to set up the equation.

Osborne invested $17000 in stocks and bonds. if he made a 10% profit on his stocks and a 7% profit on his bonds, and the combined profit was $1,280, how much did Osborne invest in stocks?

 

Let x = the amount of money Osborne invested in stocks

Let y = the amount he invested in bonds

 

We have two unknowns (x and y) so we need two equations relating the unknowns to solve the problem.

 

Equation 1: Osborne invested $17000 in stocks and bonds

 

x + y = 17000

 

Equation 2: He made a 10% profit on his stocks and a 7% profit on his bonds, and the combined profit was $1,280

 

x*(0.10) + y*(0.07) = 1280

 

OK, I set it up for you.  Can you finish it from here?

Answer 2

another solution:

 

S=amount invested in stocks

$17,000-S=amount invested in bonds

10%*S+7%*($17,000-S)=$1280

10%*S+7%*($17,000)-7%*S=$1280

0.1S+$1190-0.07S=$1280

0.03S=$1280-$1190

0.03S=$90

3S=$9000

S=$9000/3

S=$3000 invested in stocks

$17,000-$3000=$14,000 invested in bonds

check:

10%*$3000+7%*$14,000=(0.1*$3000)+(0.07*$14,000)=$300+$980=$1280