word problems

Question

Problem Page
Chau invested his savings in two investment funds. The amount he invested in Fund A was 2000
less than the amount he invested in Fund B. Fund A returned a 6%
profit and Fund B returned a 7%
profit. How much did he invest in Fund B, if the total profit from the two funds together was 1050
?

Answer 1

Interest = principal*rate*time

 

A = amount invested in fund A

A + 2000 = amount invested in fund B

 

Assuming we are talking one year:

 

1050 = 0.06A + 0.07(2000+A)

1050 = 0.06A + 140 + 0.07A

1050 = 0.13A + 140

910 = 0.13A

910/0.13 = A

 

A = $7000 in investment fund A

2000+A = $9000 in investment fund B