
Algebra PreAlgebra and Basic Algebra Math Forum 
 LinkBack  Thread Tools  Display Modes 
September 15th, 2009, 12:03 PM  #1 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  word problem elimination/substitution
Chad invested 3/4 of his $56 000 lottery winnings in two different mutual funds. At the end of the year the Balanced fund had earned 6.5% interest, but the emerging markets fund had lost 3%. If the value of Chads funds increased by 1590, determine the amount invested in each fund. The equations I came up with were x+y=42000 .03x+.65y=1590 Thanks for the help God Bless 
September 15th, 2009, 12:09 PM  #2 
Senior Member Joined: Mar 2009 Posts: 318 Thanks: 0 
I will guess that the variables stand for the amounts invested in each account...? But I don't understand the percentages. The one account lost three percent; it didn't gain three percent. And the other account either earned 65% or else earned 6.5%. I would guess the latter, but your product indicates the former...? 
September 15th, 2009, 12:13 PM  #3 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  Re: word problem elimination/substitution
x+y=42000 .03x %+.65y %=1590 x=smaller account y=larger times by 100 to get rid of the decimals 3x+65y=159000 Thats what I got. and it didnt work I know the answers are 12000 and 30000 from my book but I dont understand how to get them What would u do? Thanks 
September 15th, 2009, 05:10 PM  #4 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  Re: word problem elimination/substitution
any 1? 
September 15th, 2009, 06:49 PM  #5 
Senior Member Joined: Jan 2009 From: Japan Posts: 192 Thanks: 0  Re: word problem elimination/substitution
As stapel mentioned, your formula has the Balanced Fund giving a return of 65%. It should be changed from 0.65 to 0.065 to be a gain of 6.5%.

September 16th, 2009, 02:19 PM  #6 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0 
OH that's why. Thank you very much!
Last edited by skipjack; April 16th, 2015 at 05:28 PM. 
April 12th, 2015, 10:21 AM  #7 
Math Team Joined: Jul 2011 From: Texas Posts: 1,486 Thanks: 602 
First equation ok. Second equation ... 0.97x + 1.065y = 43590 
April 12th, 2015, 10:27 PM  #8 
Newbie Joined: Dec 2008 From: Bahrain Posts: 4 Thanks: 0 
equation 2 can also be .03x + 0.065 y = 1590 
April 13th, 2015, 10:35 PM  #9 
Newbie Joined: Apr 2015 From: india Posts: 1 Thanks: 0 
Amount invested in mutual fund which generated profit 30,000 (Y) which made lose 12000 (X). 

Tags 
problem, word 
Search tags for this page 
percentage word problems using substitution and elimination,percentage word substitution,elimination and substitution problems
Click on a term to search for related topics.

Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
Simultaneous Equations  Substitution and Elimination  secsci  Algebra  6  March 16th, 2014 08:57 PM 
Math 11 Word problem using elimination/substitution  jason7377  Algebra  3  September 15th, 2009 11:08 AM 
Gaussian elimination problem  allanc16  Linear Algebra  2  August 27th, 2009 08:14 PM 
help with this gauss elimination problem  citibankak  Applied Math  1  September 6th, 2008 06:55 PM 
a word problem solve my using elimination  mercury36  Algebra  1  September 25th, 2007 10:19 PM 