Nicole invested her savings in two investment funds. The amount she invested in Fund A was $3000 less than the amount she invested in Fund B. Fund A returned a 6% profit and Fund B returned a 8% profit. How much did she invest in Fund B, if the total profit from the two funds together was $2060?

Question

Gretchen Raymond

Mathematics

2 December, 07:52

Nicole invested her savings in two investment funds. The amount she invested in Fund A was $3000 less than the amount she invested in Fund B. Fund A returned a 6% profit and Fund B returned a 8% profit. How much did she invest in Fund B, if the total profit from the two funds together was $2060?

+1

Answers (1)

Know the Answer?

Joshua Reeves · Answer 1

Let us denote the amount of investment in the Fund B with x. We know that Fund B returned 8% and that in Fund A Nicole invested $3000 less than the amount she invested in Fund B, so we can write: x-3000 Fund A returned 6%.

Interest = 2060

The percent has been converted by multiplying the equation by 100

8x+6 (x-3000) = 2060*100

8x+6x-18000=206000

14x=206000+18000

14x=224000

x=16000

Nicole invested in Fund B $16000 and in Fund A $16000-3000=13000.