Question

Susan Marciano invested part of her $ 33 comma 000 bonus in a fund that paid a 10 % profit and invested the rest in stock that suffered a 3 % loss. Find the amount of each investment if her overall net profit was $ 2 comma 260.

Answer 1

Answer:

$25,000(In fund)

$8,000(In stock)

Explanation:

Given:

Total Amount Invested = $33,000

Net profit = $2,260

Let:

Amount invested in fund = a

So, Amount invested in stock = $33,000 - a

Net Profit = Profit in Fund  - Loss in stock

$2,260 = 10% of (a) - [3% of ($33,000 - a)]

$2,260 = 0.10a - ($990 - 0.03a)

$2,260 = 0.10a - $990 + 0.03a)

$3250 = 0.13a

$25,000 = a

Amount invested in fund = $25,000

Amount invested in stock = $33,000 - a

Amount invested in stock = $33,000 - $25,000

Amount invested in stock = $8,000