SOLUTION: An investor invested a total of ​$3,000 in two mutual funds. One fund earned a 7​% profit while the other earned a 2​% profit. If the​ investor's total prof
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Question 1062286: An investor invested a total of $3,000 in two mutual funds. One fund earned a 7% profit while the other earned a 2% profit. If the investor's total profit was $130, how much was invested in each mutual fund?
Found 2 solutions by Boreal, josgarithmetic:
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x makes 7%
3000-x makes 2%
.07x+.02(3000-x)=130
.07x+60-.02x=130
0.05x=70; multiply both sides by 20
x=$1400@7%=$98
3000-x=$1600@2%=$32
Total is $130.
Answer by josgarithmetic(39632) (Show Source): You can put this solution on YOUR website!
Two quantities, x and y.
The x quantity gave 2% profit.
The y quantity gave 7% profit,
Total amount of profit was 130 dollars.
SYSTEM OF LINEAR EQUATIONS
If you are comfortable solving this kind of system, then you can continue from here.
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