Problema Solution
an investor invested a total of 1300 in two mutual funds. One fund earned 4% profit while the other earned 2% profit . if the investor's total profit was $40,how much was invested in each mutual fund?
Answer provided by our tutors
Let
'x' be invested in the first fund
'y' be invested in the second fund
total invested is x + y = 1300
One fund earned 4% profit that is 0.04*x
Second fund earned 2% profit that is 0.02*y
Total profit was 40 = 0.04*x + 0.02*y
To find the solutions we need to solve the system equations
x + y = 1300
0.04*x + 0.02*y = 40
x = $700 invested in the first fund
y = $600 invested in the second fund