Final answer:
The investor invested $1100 in the mutual fund with a 7% profit and $2000 in the fund with a 2% profit. We solved this through a system of equations representing the total investment and the total profit.
Step-by-step explanation:
The student has a total of $3100 invested in two mutual funds with different profit percentages. To find out how much was invested in each fund, we can set up a system of equations. Let x be the amount invested in the fund with a 7% profit and y the amount in the fund with a 2% profit.
- Equation 1: x + y = 3100 (The sum of the investments is $3100)
- Equation 2: 0.07x + 0.02y = 117 (The total profit from both investments is $117)
We can solve this system by substitution or elimination. If we solve for y in Equation 1 (y = 3100 - x) and substitute it into Equation 2, we get:
0.07x + 0.02(3100 - x) = 117
0.07x + 62 - 0.02x = 117
0.05x = 55
x = 1100
Substituting x = 1100 back into Equation 1:
1100 + y = 3100
y = 2000
Therefore, $1100 was invested in the fund with a 7% profit and $2000 was invested in the fund with a 2% profit.