SOLUTION: Marquis invested $4800 in two mutual funds. Last year one of the funds went up by 6% and other fund went down by 5%. If his portfolio increased in value by $90 last year, how much

Question 621213: Marquis invested $4800 in two mutual funds. Last year one of the funds went up by 6% and other fund went down by 5%. If his portfolio increased in value by $90 last year, how much did Marquis invest in the fund that earned a 6% profit?
Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
Marquis invested $4800 in two mutual funds. Last year one of the funds went up by 6% and other fund went down by 5%. If his portfolio increased in value by $90 last year, how much did Marquis invest in the fund that earned a 6% profit?
.
Let x = amount ($) invested with 6% profit
then
4800-x = amount ($) invested with 5% loss
.
From: "If his portfolio increased in value by $90 last year, how much did Marquis invest in the fund that earned a 6% profit?"
.06x - .05(4800-x) = 90
.06x - (240-.05x) = 90
.06x - 240+.05x = 90
.11x - 240 = 90
.11x = 330
x = $3000

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