Ask Question
5 April, 13:03

An Investor invested a total of $2,600 in two mutual funds. One fund earned 7% profit while the other earned 3% profit. If the investor's total profit was $150, how much was invested in each mutual fund?

+2
Answers (1)
  1. 5 April, 16:11
    0
    let x = amount invested at 3%

    so, (2600 - x) is invested at 7%

    .07 * (2600 - x) +.03 * (x) = 138

    182 -.07x +.03x = 138

    -.07x +.03x = 138 - 182

    -.04x = - 44

    -.04x / -.04 = - 44 / -.04

    x = 1,100

    so amount invested at 7% is (2600 - 1100) or 1500

    consequently amount invested at 3% is 1100

    $1,100 invested at 3%

    $1,500 invested at 7%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An Investor invested a total of $2,600 in two mutual funds. One fund earned 7% profit while the other earned 3% profit. If the investor's ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers