SOLUTION: An investor invested a total of $2500 in two mutual funds. One fund earned a 8% profit while the other earned a 3% profit. If the investors total profit was $110, how much was inve
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Question 630891: An investor invested a total of $2500 in two mutual funds. One fund earned a 8% profit while the other earned a 3% profit. If the investors total profit was $110, how much was invested in each mutual fund? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Mutual fund I 8.00% per annum ------------- Amount invested =x
Mutual fund II 3.00% per annum ------------ Amount invested = y
2500
Interest----- 110
Mutual fund I 8.00% per annum ---x
Mutual fund II 3.00% per annum ---y
Sum of investments
x + 1 y= 2500 -------------1
Interest earned on both investments
8.00% x + 3.00% y= 110
Multiply by 100
8 x + 3 y= 11000.00 --------2
Multiply (1) by -8
we get
-8 x -8 y= -20000.00
Add this to (2)
0 x -5 y= -9000
divide by -5
y = 1800
Mutual fund I 8.00% $ 700
Mutual fund II 3.00% $ 1800
