Problema Solution
an investor invested a total of 3,200 dollars in two mutual funds. One fund earned 5% profit while the other earned 2% profit. If the investors total profit was 118 dollars, how much was invested in each mutual fund?
Answer provided by our tutors
let investment at 5% be $x
5% of x+ 2% of (3200-x) = 118
5x + 6400-2x = 11800
3x = 5400
x = 1800
investment at 5% and 2% are $1800 & 1400 respectively