SOLUTION: An investor invested a total of $2,000 in two mutual funds.One fund earned a 7% profit while the other fund earned a 2% profit. If the investors profit was $120, how much was inve

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Question 691724: An investor invested a total of $2,000 in two mutual funds.One fund earned a 7% profit while the other fund earned a 2% profit. If the investors profit was $120, how much was invested in each mutual fund?
The amount invested in the mutual fund that earned 7% is?
the amount invested in the mutual fund that earned 2% is?
Answer by sachi(548) About Me  (Show Source):
You can put this solution on YOUR website!
let he invested $x in 1st fund with 7% profit & $(2000-x) in the other fund with 2% profit
so the total profit is
7*x/100+2*(2000-x)/100=120
or 7x+2(2000-x)=120*100
or 7x+4000-2x=12000
or 5x=12000-4000=8000
or x=8000/5=1600
2000-x=2000-1600=400
The amount invested in the mutual fund that earned 7% is $1600
the amount invested in the mutual fund that earned 2% is $400
ans