$10,000 bonus in a fund that paid a 12% profit and invest the rest in stock that suffered a 4% loss. whats investment if her overall net profit was $1,040

Question

Susan Marciano invested part of her $10,000 bonus in a fund that paid a 12% profit and invest the rest in stock that suffered a 4% loss. Find the amount of each investment if her overall net profit was $1,040

Answer 1

Let P = the amount of the $10,000 invested in the fund that paid the 12% profit. 

The amount in the other fund (4% loss), then, is $10,000 - P

 

($10,000) + ($1,040) = P(1.12) + ($10,000-P)(0.96)

 

$11,040 = (1.12)P +9600 - (0.96)P

 

$11,040 - $9600 = (0.16)P

 

Solve for P.