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March 25, 2017

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An investor invested a total of $2,600 in two mutual funds. One fund earned a 5% profit while the other earned a 3% profit. If the investor's total profit was $98, how much was invested in each mutual fund?

The amount invested in the mutual fund that earned 5% was $ ?

The amount invested in the mutual fund that earned 3% was $ ?

  • algebra - ,

    $X @ 3%.
    $(2600-x) @ 5%.

    0.03x + 0.05(2600-x) = $98.
    0.03x + 130-0.05x = 98
    -0.02x = 98-130 = -32
    X = $1600 @ 3%.
    2600-x = 2600-1600 = $1000. @ 5%.

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