Question
upstudy study bank question image url

Phyllis invested \( \$ 50,000 \) in two different types of stock. The first type earned \( 10 \% \) and the second type earned \( 15 \% \). If the profit on the the \( 10 \% \) stock, how much did Phyllis invest in the \( 15 \% \) stock?

Ask by Erickson Elliott. in the United States
Jan 21,2025

Real Tutor Solution

Tutor-Verified Answer

Answer

Phyllis invested \$20,000 in the 15% stock.

Solution

It appears there's a small typo in your problem statement. Assuming you meant to say that **the profit from the 10% stock is equal to the profit from the 15% stock**, we can solve the problem as follows: **Let:** - \( x \) be the amount invested in the 10% stock. - \( \$50,000 - x \) be the amount invested in the 15% stock. **Given:** - Profit from 10% stock: \( 0.10x \) - Profit from 15% stock: \( 0.15(\$50,000 - x) \) - Profits are equal: \( 0.10x = 0.15(\$50,000 - x) \) **Set Up the Equation:** \[ 0.10x = 0.15(\$50,000 - x) \] **Solve for \( x \):** \[ 0.10x = \$7,500 - 0.15x \] \[ 0.10x + 0.15x = \$7,500 \] \[ 0.25x = \$7,500 \] \[ x = \frac{\$7,500}{0.25} = \$30,000 \] **Amount Invested in the 15% Stock:** \[ \$50,000 - \$30,000 = \$20,000 \] **Answer:** Phyllis invested **\$20,000** in the 15% stock.

Reviewed and approved by the UpStudy tutoring team

error msg
Explain
Simplify this solution

Beyond the Answer

Let's denote the amount Phyllis invested in the \( 10\% \) stock as \( x \). Therefore, the amount invested in the \( 15\% \) stock will be \( 50,000 - x \). The profit from the \( 10\% \) stock can be expressed as \( 0.1x \), while the profit from the \( 15\% \) stock is \( 0.15(50,000 - x) \). Since the profit on the \( 10\% \) stock is equal to the profit on the \( 15\% \) stock, we can set the equations equal to each other: \[ 0.1x = 0.15(50,000 - x) \] Now, let's solve for \( x \): \[ 0.1x = 7,500 - 0.15x \] \[ 0.1x + 0.15x = 7,500 \] \[ 0.25x = 7,500 \] \[ x = 30,000 \] Thus, Phyllis invested \( \$30,000 \) in the \( 10\% \) stock. Consequently, the investment in the \( 15\% \) stock would be: \[ 50,000 - 30,000 = 20,000 \] Phyllis invested \( \$20,000 \) in the \( 15\% \) stock.

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy