An investment firm invested in two companies last year. They invested $8000 in C

Question

An investment firm invested in two companies last year. They invested $8000 in Company A and made a profit of 11%. They invested $24,000 in Company B and made a profit of 13%.
Answer the questions below. Do not do any rounding.
(a) What was the investment firm’s total profit?
(b) What was the percent profit for their total investment? An investment firm invested in two companies last year. They invested $8000 in Company A and made a profit of 11%. They invested $24,000 in Company B and made a profit of 13%.
Answer the questions below. Do not do any rounding.
(a) What was the investment firm’s total profit?
(b) What was the percent profit for their total investment?
Answer the questions below. Do not do any rounding.
(a) What was the investment firm’s total profit?
(b) What was the percent profit for their total investment?

Explanation / Answer

a)
profit from A = 11 % of 8000
= 11*8000/100
= $880

profit from B = 13 % of 24000
= 13*24000/100
= $3120

total profit = $880 + $3120
= $4000

Answer: $4000

b)
total investment = $ 8000 + $ 24000
= $ 32000

total profit = $4000

% profit = total profit * 100 / total investment
= 4000*100/32000
= 12.5 %

Answer: 12.5 %

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