SOLUTION: An investor invested a total of $3,200 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investor's total profit was $98, how much was inv
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Question 583459: An investor invested a total of $3,200 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investor's total profit was $98, how much was invested in a mutual fund?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
part I 4.00% per annum ---x
part II 2.00% per annum ---y
x+y=3200 ------------------------1
4.00% x + 2.00% y= 98
Multiply by 100
4x+2y= 9800.00 --------2
Multiply (1) by -4
we get
-4x-4y= -12800.00
Add this to (2)
0x-2y= -3000
divide by -2
y = 1500 investment at 2.00%
Balance 1700 investment at 4.00%
CHECK
1500 --------- 2.00% ------- 30.00
1700 ------- 4.00% ------- 68.00
Total -------------- 98.00
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