SOLUTION: An investor invested a total of $1700 in two mutual funds. One fund earned 9% profit while the other earned a 7% profit. If the investor's total profit was $131, how much was inves
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Question 724448: An investor invested a total of $1700 in two mutual funds. One fund earned 9% profit while the other earned a 7% profit. If the investor's total profit was $131, how much was invested in each mutual fund?
The amount invested in the mutual fund that earned 9% was?
The amount invested in the mutual fund that earned 7% was? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 9.00% per annum ------------- Amount invested =x
Part II 7.00% per annum ------------ Amount invested = y
1700
Interest----- 131
Part I 9.00% per annum ---x *
Part II 7.00% per annum ---y
Total investment
x + 1 y= 1700 -------------1
Interest on both investments
9.00% x + 7.00% y= 131
Multiply by 100
9 x + 7 y= 13100.00 --------2
Multiply (1) by -9
we get
-9 x -9 y= -15300.00
Add this to (2)
0 x -2 y= -2200
divide by -2
y = 1100 - x)
Part I 9.00% $ 600
Part II 7.00% $ 1100
