You have already invested $550 in a stock with an annual return of 11% How much more should be invested 15% so that the return on the total investment is 12%?

1 Answer
Oct 26, 2016

Answer:

#$183.33# more to be invested for #12%# total return.

Explanation:

Let #x# be the amount to be invested #(15%)#. Then by condition,
#x*0.15+550*0.11 = (x+550)*0.12 or x*0.15-x*0.12=550*0.12-550*0.11 or 0.03x=550*(0.12-0.11) or 0.03x= 550*0.01 or 0.03x= 5.5 or x=5.5/0.03= $183.33#
#$183.33# more to be invested for #12%# total return.[Ans]