an investor invested a total of 1,600 in 2 mutual funds.One fund earned a 6% profit while the other earned a 2% profit. If the investors profit was $56, how much was invested in each mutual fund.
amount invested in mutual fund that earned 6% was___
amount invested in fund that earned 2% was
___
6% account ---- x
2% account ---- 1600-x
.06x + .02(1600-x) = 56
.06x + 32 - .02x = 56
.04x = 24
x = 24/.04 = 600
$600 at 6% and $1000 at 2%
An investor invested a total of of $2500 in two mutual funds. One fund earned a 7% profit while the other earned a 4% profit. If the investor's total profit was $14, how much was invested in each mutual fund?
An investor invested a total of $2000 in two mutual funds. One fund earned 9% profit while the other earned a 6% profit. If the investor's total profit was $129, how much was invested in each mutual fund?
To solve this problem, we can set up a system of equations using the information given.
Let's call the amount invested in the mutual fund that earned a 6% profit "x" and the amount invested in the mutual fund that earned a 2% profit "y".
From the problem, we know two things:
1. The investor invested a total of $1,600: x + y = 1600
2. The investor made a profit of $56: 0.06x + 0.02y = 56
Now, we can solve this system of equations to find the values of x and y.
Using the first equation, we can isolate x by subtracting y from both sides:
x = 1600 - y
Substituting this value of x into the second equation, we get:
0.06(1600 - y) + 0.02y = 56
Now we can solve for y:
96 - 0.06y + 0.02y = 56
-0.04y = 56 - 96
-0.04y = -40
y = -40 / -0.04
y = 1000
Now, substitute the value of y back into the first equation to find x:
x + 1000 = 1600
x = 1600 - 1000
x = 600
So, the amount invested in the mutual fund that earned a 6% profit was $600, and the amount invested in the mutual fund that earned a 2% profit was $1000.