SOLUTION: An investor invested a total of $3000 in two mutual funds. One fund earned 8% profit while the other earmed a 6% profit. If the investor's total profit was $206, how much was inves
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Question 623559: An investor invested a total of $3000 in two mutual funds. One fund earned 8% profit while the other earmed a 6% profit. If the investor's total profit was $206, how much was invested in each mutual fund?
Answer by Emsley(35) (Show Source): You can put this solution on YOUR website!
Let x =amount in 1st fund and y amount in 2nd fund
So 0.08x+0.06y=206 and x+y=300
y=3000-x So 0.08x+0.06(3000-x)=206
0.08x+180-0.06x=206
0.02x=26 x=26/0.02 =1300 So y=1700
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