Aliyah earned a $6,000 bonus from her sales job for exceeding her sales goals. after paying taxes at a 30% rate, she invested the remaining money in two stocks. one stock returned the equivalent of 10% simple interest after 1 yr, and the other returned 4% at the end of 1 yr. if her investments returned $240.00 (excluding commissions) how much did she invest in each stock

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05-01-2018
Business

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Aliyah earned a $6,000 bonus from her sales job for exceeding her sales goals. after paying taxes at a 30% rate, she invested the remaining money in two stocks. one stock returned the equivalent of 10% simple interest after 1 yr, and the other returned 4% at the end of 1 yr. if her investments returned $240.00 (excluding commissions) how much did she invest in each stock

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W0lf93 W0lf93 · Answer 1 · 2018-01-19T02:43:15+01:00

Aliyah Earned Bonus of $ 6000
30% of $ 6000 = $ 1800
Therefore remaining amount after paying tax = $ (6000 - 1800)
= $ 4200
Hence, She invested total amount of $ 4200 in two stocks say, x and y
let x - stock that returned 10 % after 1 year
and y - stock that returned 4 % after 1 year
x + y = 4200 equation 1

&, (x * 1 * 10)/(100) = 0.1 x
, (y*1*4)/(100)= 0.04 y
Now, from given conditions,
0.1 x + 0.04 y = 240 equation 2
by solving equation 1 and 2 simultaneously we get x and y as,
x = $ 1200 and
y = $ 3000