Mr. Nielsen invested $250,000 in two different automobile companies. The first earned a 5% profit, and the second earned a 10% profit. If Mr. Nielson made 3 times as much profit from the 10% investment as he did from the 5% investment, how much did he invest in the company that made 5%?

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JeanaShupp JeanaShupp · Answer 1 · 2019-02-04T07:16:47+01:00

Answer: $100,000

Step-by-step explanation:

Let P be the amount he invested in 5% profit .

then 250,000-P be the amount he invested in 10% profit .

The total profit he earns at 5% =5% of P

⇒The total profit he earns at 5 %=0.05P

Now, The total profit he earns at 10% =10% of (250,000-P)

⇒The total profit he earns at 10%=[tex]0.1(250,000-P)=25,000-0.1P[/tex]

According to the question,

[tex]3(0.05P)=25,000-0.1P\\\Rightarrow\ 0.15P=25,000-0.1P\\\Rightarrow\ 0.25P=25,000\\\Rightarrow\ P=\frac{25000}{0.25}\\\Rightarrow\ P=100,000[/tex]

Thus, the money he invest in the company that made 5%= $100,000