SOLUTION: An investor invested a total of $1400 in two mutual funds. One fund earned a 6% profit while the other earned a 2% profit. If the investor's total profit was $72, how much was inve
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Question 659637: An investor invested a total of $1400 in two mutual funds. One fund earned a 6% profit while the other earned a 2% profit. If the investor's total profit was $72, how much was invested in each mutual fund? Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! x + y = $1400
.06x + .02y = 72
Elimination
Multiply the first equation by .06 and subtract the second equation
.06(x + y = 1400) or
.06x + .06y = 84
-.06x + .02y = 72
.06x - .06x + .06y - .02y = 84 - 72
Combine like terms
.04y = 12
.04y/.04 = 12/.04
y = 300
Plug y into the first equation
x + 300 = 1400
x + 300 - 300 = 1400 - 300
x = 1100
$300 at 2% and $1100 at 6%
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