Problema Solution
An investor invested a total of $2700 in two mutual funds. One fund earned 5%, the other earned 3%. Total profit was 95%, how much was invested in each fund
Answer provided by our tutors
let
x = the money invested in the 5% fund, x>=0
y = the money invested in the 3% fund, y>=0
an investor invested a total of $2700
x + y = 2700
total profit was 95%
0.05x + 0.3y = 0.95*2700
by solving the system of equations
x + y = 2700
0.05x + 0.3y = 0.95*2700
we get
x = -7020
y = 9720
click here to see the step by step solution of the system of equations
we got negative number for x thus it is impossible for the total profit to be 95%
also notice that 0.05x + 0.3y <= 0.05*2700 = 135 < 0.95*2700 = 2565 again it is impossible for the total profit to be 95%