Question

And investor invested a total of $2300 in mutual funds. One fund earned a 9% profit while the other earned a 3% profit if the investors total profit was $189, how much was invested it in each mutual fund?

The amount invested in the mutual fund that are 9% was $_

The amount invested in the mutual fund that are in 3% was $_

Answer 1

• Amount at 9% is 2000 dollars
• Amount at 3% is 300 dollars

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Work Shown:

x = amount invested at 9%

y = amount invested at 3%

x+y = 2300 invested total, which solves to y = 2300-x

0.09x+0.03y = 189 dollars of total profit

Applying substitution to solve.

0.09x+0.03y = 189

0.09x+0.03(y) = 189

0.09x+0.03(2300-x) = 189

0.09x+69-0.03x = 189

0.06x+69 = 189

0.06x = 189-69

0.06x = 120

x = 120/0.06

x = 2000

y = 2300-x = 2300-2000 = 300

The solution as an ordered pair is (x, y) = (2000, 300)

Therefore, $2000 was invested at 9%, and $300 was invested at 3%.