Problema Solution
An invester invested a total of $2700.00 in 2 mutual funds. One fund earned a 5% profit and the onther one earned a 3% profit. If the investers total profit was $107.00, how much was invested in each mutual fund?
Answer provided by our tutors
first fund (5%) : x
second fund (3%) = y
=> x + y = 2700 => x = 2700-y (1)
(because 5% = 0.05, 3% = 0.03)
=> 0.05x + 0.03y = 107 (2)
from (1), (2) => subtitute x = 2700 - y
=> 0.05(2700-y) + 0.03y = 107
=> 135 - 0.05y + 0.03y = 107
=> 0.02y = 28
=> y = 28/0.02 = $1400
=> x = 2700 - 1400 = $1300
Conclusion:
5% profit fund = $1300
3% profit fund = $1400