Question

jim invested his savings in two investment funds. the amount he invested in fund A was $3000 less than the amount he invested in fund B. Fund A returned a 8% 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 $960?

Answer 1

Answer:

$8000

Step-by-step explanation:

Let it be that investment in A is x dollars, then Jim invested in B x+3000.

x/100*8=0.08x- the profit from A, (x+3000)/100*7= 0.07x+210

0.08x+0.07x+210=960

0.15x=750

x=750/0.15= 5000

5000+3000=8000dollars- investment in B