SOLUTION: An investor invested a total of 2800 in two mutual funds. One fund earned a 6% profit while the other earned a 4% profit. If the investors total profit was $152, how much was inves
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-> SOLUTION: An investor invested a total of 2800 in two mutual funds. One fund earned a 6% profit while the other earned a 4% profit. If the investors total profit was $152, how much was inves
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Question 732810: An investor invested a total of 2800 in two mutual funds. One fund earned a 6% profit while the other earned a 4% profit. If the investors total profit was $152, how much was invested in each mutual fund? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 6.00% per annum ------------- Amount invested =x
Part II 4.00% per annum ------------ Amount invested = y
2800
Interest----- 152.00
Part I 6.00% per annum ---x
Part II 4.00% per annum ---y
Total investment
x + 1 y= 2800 -------------1
Interest on both investments
6.00% x + 4.00% y= 152
Multiply by 100
6 x + 4 y= 15200.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -16800.00
Add this to (2)
0 x -2 y= -1600
divide by -2
y = 800
Part I 6.00% $ 2000
Part II 4.00% $ 800
