document.write( "Question 770141: An investor invested a total of $3000 in two mutual funds. One fund ears 5% profit while the other earned 2% profit. If the investor's profit was $93, how much was invested in each fund? \n" ); document.write( "

Algebra.Com's Answer #469299 by ramkikk66(644) $\"\"$ $\"About$

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document.write( "An investor invested a total of $3000 in two mutual funds.  One fund ears 5% profit while the other earned 2% profit.  If the investor's profit was $93, how much was invested in each fund?\r\n" );
document.write( "Ans:\r\n" );
document.write( "Let amount invested in 1st fund be x\r\n" );
document.write( "Then amount invested in 2nd fund is 3000-x\r\n" );
document.write( "Profit in 1st fund = x*5% = x*5/100 = 0.05*x\r\n" );
document.write( "Profit in 2nd fund = (3000 - x)*2% = (3000 - x)*2/100 = 60 - 0.02*x\r\n" );
document.write( "Total profit is given to be 93\r\n" );
document.write( "So we get the equation\r\n" );
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document.write( "So amount invested in 1st fund = $1100\r\n" );
document.write( "Amount invested in 2nd fund = $3000 - $1100 = $1900\r\n" );
document.write( "Check:\r\n" );
document.write( "Interest in 1st = 1100 * 0.05 = $55\r\n" );
document.write( "Interest in 2nd = 1900 * 0.02 = $38\r\n" );
document.write( "Total = 55 + 38 = $93 - correct!\r\n" );
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