Problema Solution
an investor invested a total of $2,400 in two mutual funds. one fund earned 6% profit while the other earned a 3% profit. if the investors total profit was $84 how much was invested in each mutual fund
Answer provided by our tutors
x+y=2400 (1)
0.06x+0.03y=84 (2)
-0.6x-0.06y=-144 (3)multiply first equation by -.06 to cancel out x
-.03y=-60 add equation2and3
Y=2000 divide to get y
X=400 filled y in first equation to get x
2000 in the 3%
400 in the 6%