SOLUTION: 1400 invested in two mutual funds one earned 6% profit the other earned 4% profit total profit 80. how much invested in each account

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Question 754747: 1400 invested in two mutual funds one earned 6% profit the other earned 4% profit total profit 80. how much invested in each account
Answer by tommyt3rd(5050) About Me  (Show Source):
You can put this solution on YOUR website!
P=1400
I=80
Assume t=1
I%5B1%5D%2BI%5B2%5D=80
or...

0.06P%5B1%5D%2B0.04P%5B2%5D=80
for convenience we multiply by 50

3P%5B1%5D%2B2P%5B2%5D=4000

and the total principal is:


P%5B1%5D%2BP%5B2%5D=1400
then we double each term

2P%5B1%5D%2B2P%5B2%5D=2800



Next we subtract to solve

3P%5B1%5D%2B2P%5B2%5D=4000
2P%5B1%5D%2B2P%5B2%5D=2800

P%5B1%5D=1200

and thus
P%5B2%5D=200



:)