Problema Solution
An investor invested 2,500 in mutual funds. One fund earned 4% profit and the other 2% profit. if the investors total profit was 64 dollars, how much was invested in each mutual fund.
Answer provided by our tutors
x: 4% profit
y: 2% profit
x+y = 2500 => x= 2500-y
0.04x + 0.02y = 64
Subtitute:
=> 0.04*(2500-y) + 0.02y = 64
100 - 0.04y + 0.02y = 64
36 = 0.02y
=> y = 36/0.02 = 1800
=> x = 2500-1800 = 700