Question

An investor invested a total of $700 in two mutual funds. One fund earned a 8% profit while the other earned a 4% profit. If the investors total profit was $48, how much was invested in each mutual fund

Answer 1

Let's denote the amount invested in the 8% profit fund as X and the amount invested in the 4% profit fund as Y.

We have two equations based on the problem:

1) X + Y = $700 (total investment)
2) 0.08*X + 0.04*Y = $48 (total profit)

We can solve these equations to find the values of X and Y. It's a bit of algebra but we can definitely figure it out!