Problema Solution
An investor invested a total of $3500.00 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investor's total profit was $102, how much was invested in each mutual fund?
Answer provided by our tutors
part I 4.00% per annum ---x
part II 2.00% per annum ---y
x+y=3500 ------------------------1
4.00% x + 2.00% y= 102
Multiply by 100
4x+2y= 10200.00 --------2
Multiply (1) by -4
we get
-4x-4y= -14000.00
Add this to (2)
0x-2y= -3800
divide by -2
y = 1900 investment at 2.00%
Balance 1600 investment at 4.00%