Question

11) Sharon invested $4,000 in two
different mutual funds. On the first
fund, she made a profit of 24%, while
on the second fund she made a profit
of 36%. If the total profit was $1,080,
how much did she invest in the first
fund?
A. $1,000 B. $1,500
C. $2,000 D. $2,500
E. $3,000​

Answer 1

Solution:

Let, $ 4000 was divided in two parts $ x and $ (4000 - x)

For $ x, she made a profit of 24%

i.e., profit = $ x * 24%

= $ x * 24/100

= $ 6x/25

For $ (4000 - x), she made a profit of 36%

i.e., profit = $ (4000 - x) * 36%

= $ (4000 - x) * 36/100

= $ 9 (4000 - x)/25

ATQ,

6x/25 + 9 (4000 - x)/25 = 1080

or, (6x + 36000 - 9x)/25 = 1080

or, - 3x + 36000 = 27000

or, 3x = 9000

or, x = 3000

∴ she invested $ 3000 in the first fund.

Hence, [ option A ] is correct.