SOLUTION: An invester invested a total of 3000 dollars into two mutual funds. One fund earned 4% profit while the other earned 2% profit. If the investors total profit was 98 dollars, how mu

Question 635058: An invester invested a total of 3000 dollars into two mutual funds. One fund earned 4% profit while the other earned 2% profit. If the investors total profit was 98 dollars, how much was invested in each fund?
Found 2 solutions by Maths68, mananth:
Answer by Maths68(1474) (Show Source): You can put this solution on YOUR website!
Total investment = $3000
Amount invested for 4% profit = x
Amount invested for 2% profit = 3000-x
Total Profit = $98

(Amount invested for 4% profit)(4%)+ (Amount invested for 2% profit)(2%)= Total Profit
(x)(4/100)+ (3000-x)(2/100)= 98
Multiply by 100 both sides
(100)(x)(4/100)+ (100)(3000-x)(2/100)= 98*100
4x+(3000-x)(2)= 9800
4x+6000-2x=9800
2x=9800-6000
2x=3800
x=3800/2
x=1900

Amount invested for 4% profit = x = 1900
Amount invested for 2% profit = 3000-x = 3000-1900=1100

Check
=======
4% of 1900 = (4/100)(1900)=(4)(19)=76
2% of 1100 = (2/100)(1100)=(2)(11)=22
Total profit = 76+22=98
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Mutual fund I 4.00% per annum ------------- Amount invested =x
Mutual fund II 2.00% per annum ------------ Amount invested = y
3000
Interest----- 98

Mutual fund I 4.00% per annum ---x
Mutual fund II 2.00% per annum ---y
Credit on both cards
x + 1 y= 3000 -------------1
Interestto be paid on both
4.00% x + 2.00% y= 98
Multiply by 100
4 x + 2 y= 9800.00 --------2
Multiply (1) by -4
we get
-4 x -4 y= -12000.00
Add this to (2)
0 x -2 y= -2200
divide by -2
y = 1100
Mutual fund I 4.00% $ 1900
Mutual fund II 2.00% $ 1100

CHECK
1900 --------- 4.00% ------- 76.00
1100 ------------- 2.00% ------- 22.00
Total -------------------- 98.00

m.ananth@hotmail.ca

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