Answer: the amount invested on the first mutual fund is $600 and the the amount invested on the second mutual fund is $1700
Explanation:
Let x represent the amount of money that the investor invested in one mutual fund.
Let y represent the amount of money that the investor invested in the second mutual fund.
An investor invested a total of $2,300 in two mutual funds. This means that
x + y = 2300
Considering the first mutual fund, it earned a 8% profit. This means that amount earned is
8/100 × x = 0.08x
Considering the second mutual fund, it earned a 2% profit. This means that amount earned is
2/100 × y = 0.02y
If the investors total profit was $82, it means that
0.08x + 0.02y = 82 - - - - - - - - 1
Substituting x = 2300 - y into equation 1, it becomes
0.08(2300 - y) + 0.02y = 82
184 - 0.08y + 0.02y = 82
- 0.08y + 0.02y = 82 - 184
- 0.06y = - 102
y = - 102/- 0.06 = 1700
x = 2300 - y = 2300 - 1700
x = 600