A man invested a total of $3,000 in two investments. he made a profit of 3% on the first investment and 4% on the second investment. if his total profit was $107, what was the amount of each investment?

Question

Madeline May

Mathematics

31 January, 07:09

A man invested a total of $3,000 in two investments. he made a profit of 3% on the first investment and 4% on the second investment. if his total profit was $107, what was the amount of each investment?

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Answers (1)

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Damien · Answer 1

Let the first investment be x

and second be 3000-x

so 3%of x + 4% of (3000-x) = 107

By solving x = 1300

First investment is 1300

second investment is 1700