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 firms total profit?
$
(b) what was the percent profit for their total investment?
%

Explanation:

Step1: Calculate profit from Company A

Profit = $8000 \times 11\% = 8000 \times 0.11 = 880$

Step2: Calculate profit from Company B

Profit = $24000 \times 13\% = 24000 \times 0.13 = 3120$

Step3: Find total profit

Total Profit = $880 + 3120 = 4000$

Step4: Calculate total investment

Total Investment = $8000 + 24000 = 32000$

Step5: Find percent profit for total investment

Percent Profit = $\frac{\text{Total Profit}}{\text{Total Investment}} \times 100\% = \frac{4000}{32000} \times 100\% = 12.5\%$

Answer:

(a) $\$4000$
(b) $12.5\%$