Problema Solution
an investor invested 3500.00 into two mutual funds. one fund earned 4% and the other earned 2% profit. if the profit was $102, how much was invested in each
Answer provided by our tutors
$102 is total profit.
So,
4% of x and 2% of (3500-x)=102
4x/100 + 7000/100 -2x/100=102
2x/100=32
x=32*50
x=1600
therefore investment is $1600 and $1900