allen is horrible at managing his money. for example he redcently invest $100,000- part of it in a company that makes "fish flavored" chicken and the rest in a company that makes spray-on vitamins. Somehow he managed to earn a 3% profit on the fish-flavored chicken investment and a 1% profit on the spray-on vitamin deal. If allen made a profit of $2,600 from both investments, how much did he invest the fish-flavored chicken company.

Answer 1

Let x be the amount Allen invested in the fish-flavored chicken company.

Since Allen invested $100,000 in total, he invested $(100,000 - x) in the spray-on vitamin company.

The profit from the fish-flavored chicken investment is 3% of x, which is 0.03x.
The profit from the spray-on vitamin investment is 1% of (100,000 - x), which is 0.01(100,000 - x).

Given that the total profit from both investments is $2,600, we can write the equation:

0.03x + 0.01(100,000 - x) = 2,600

0.03x + 1,000 - 0.01x = 2,600
0.02x + 1,000 = 2,600
0.02x = 1,600
x = 80,000

Therefore, Allen invested $80,000 in the fish-flavored chicken company.