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Ms. Morris invested in Fund A and Fund B. The total amount she invested, in both funds combined, was...

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Ms. Morris invested in Fund A and Fund B. The total amount she invested, in both funds combined, was...

by BTGmoderatorLU » Fri May 01, 2020 10:43 am

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Ms. Morris invested in Fund A and Fund B. The total amount she invested, in both funds combined, was $100,000. In one year, Fund A paid 23% and Fund B paid 17%. The interest earned in Fund B was exactly $200 greater than the interest earned in Fund A. How much did Ms. Morris invest in Fund A?

A. $32,000
B. $36,000
C. $40,000
D. $42,000
E. $45,000

The OA is D
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Re: Ms. Morris invested in Fund A and Fund B. The total amount she invested, in both funds combined, was...

by deloitte247 » Sun May 03, 2020 5:53 am
A + B = $100,000.............eqn 1
In one year; 17% of B = 23% of A + $200

Target question => How much did Ms. Morris invest in fund A?
Find the value of A

A + B = 100,000.............eqn 1
0.17B = 0.23A + 200...........eqn 2

From eqn 1
B = 100,000 - A
Substituting in eqn 2
0.17(100,000 - A) = 0.23A + 200
17000 - 0.17A = 0.23A + 200
0.23A + 0.17A = 17000 + 200
$$\frac{0.4A}{0.4}=\frac{17200}{0.4}$$
$$Answer\ =\ 43,000$$
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