Question

kevin invested his savings in two investment funds. the $6000 that he invested in fund a returned a 6% profit. the amount that he invested in fund b returned a 2% profit. how much did he invest in fund b, if both funds together returned a 3% profit? amount invested in fund b: $

Explanation:

Step1: Define variable for Fund B

Let $x$ = amount invested in Fund B (in dollars).

Step2: Calculate total profit from both funds

Total profit = Profit from A + Profit from B
$0.03(6000 + x) = 0.06(6000) + 0.02x$

Step3: Expand and simplify equation

$180 + 0.03x = 360 + 0.02x$

Step4: Isolate variable $x$

$0.03x - 0.02x = 360 - 180$
$0.01x = 180$

Step5: Solve for $x$

$x = \frac{180}{0.01} = 18000$

Answer:

$\$18000$