SOLUTION: An investor invested a total of 1500 in two mutual funds. One fund earned 7% profit while the other earned 2% profit. If the investor's total profit was $95, how much was invested

Question 626671: An investor invested a total of 1500 in two mutual funds. One fund earned 7% profit while the other earned 2% profit. If the investor's total profit was $95, how much was invested in each mutual fund?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi,

An investor invested a total of 1500 in two mutual funds. 

One fund earned 7% profit while the other earned 2% profit. 

total profit was $95

Question states***

  .07x + .02(1500-x) = $95

      .05x = 95 - 30

      .05x = 65

         x = 65/.05 = $1300, invested at 7%.    $200 invested at 2%

and****

  

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