Question

An investor invested a total of ​$900 in two mutual funds. One fund earned a 7​% profit while the other earned a 3% profit. If the​ investor's total profit was ​$73​, how much was invested in each mutual​ fund? The amount invested in the mutual fund that earned 3% was?

Answer 1

invested =x

Part II 2.00% per annum ------------ Amount invested = y =

900

Interest----- 48

Part I 8.00% per annum ---x

Part II 2.00% per annum ---y

Total investment

x + 1 y= 900 -------------1

Interest on both investments

8.00% x + 2.00% y= 48

Multiply by 100

8 x + 2 y= 4800.00 --------2

Multiply (1) by -8

we get

-8 x -8 y= -7200.00

Add this to (2)

0 x -6 y= -2400

divide by -6

y = 400

Part I 8.00% $ 500

Part II 2.00% $ 400

Explanation:

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