Question

Henry invested his savings in two investment funds. The amount he invested in Fund A was $4000 less than the amount he invested in Fund B. Fund A returned a 7% profit and Fund B returned a 4% profit. How much did he invest in Fund B, if the total profit from the two funds together was $1590?

Answer 1

Answer:

Amount invested in fund A is $12091

Amount invested in fund B is $16091

Step-by-step explanation:

Let the amount invested in fund A by Ali at 7% profit be x.

Thus, the amount invested in fund B at 4% profit will be; x + 4000

Now, we are told that the total profit from the two funds together was $1590.

Thus;

0.07x + 0.04(x + 4000) = 1590

0.07x + 0.04x + 160 = 1590

0.11x = 1590 - 160

0.11x = 1330

x = 1330/0.11

x ≈ $12091

So amount invested in fund A is $12091

Amount invested in fund B is;

$12091 + $4000 = $16091