Question

And investor invested a total of 2000 500 into mutual funds one fun earned and 9% profit while the other only 2% profit if the investors total profit was 176 how much was invested in each

Answer 1

The amount invested in first mutual fund = P = 1800

The amount invested in second fund = 700

Explanation:

The total amount invested in two mutual funds = 2500

The total profit earned in both mutual funds = 176

The profit percent in first mutual fund = 9%

The profit percent in second mutual fund = 2%

Now, let us assume the amount invested in first mutual fund = P

So, the amount invested in second fund = 2500 - P

Calculating the profits ,we get:

9% of P =
`(9)/(100)  * P = 0.09P`

2% of ( 2500 - P) =
`(2)/(100)  * (2500 -P) = 0.02(2500 -P)`

Also, total profit = 176

⇒Profit Amount from (First + Second) mutual fund = 176

⇒0.09 P + 0.02(2500 -P) = 176

or, 0.09 P + 50 - 0.02 P = 176

or, 0.07 P = 126

or, P = 126/0.07 = 1800

or, P = 1800

Hence, the amount invested in first mutual fund = P = 1800

The amount invested in second fund = 2500 - P = 2500- 1800 = 700