Problema Solution
An investor invested a total of $2300 in two mutual funds. one earned 7% while the other earned 2% of profit it the investor earned a profit of $86 how much was invested into each fund.
6% fund earned???
2% fund earned ???
Answer provided by our tutors
let
x = the amount invested in the 7% profit fund, x>0
y = the amount invested in the 2% profit fund, y>0
$2300 total money invested thus
x + y = 2300
the investor earned a profit of $86
profit from the first fund + profit from the second fund = $86
0.07*x + 0.02*y = 86
by solving the system of equations
x + y = 2300
0.07*x + 0.02*y = 86
we find
x = $800
y = $1500
7% fund earned $800.
2%fund earned $1500.