SOLUTION: An investor invested a total of 1,900 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investors total profit was $58, how much was inves
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Question 742596: An investor invested a total of 1,900 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investors total profit was $58, how much was invested in each mutal fund Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 4.00% per annum ------------- Amount invested =x
Part II 2.00% per annum ------------ Amount invested = y
1900
Interest----- 58.00
Part I 4.00% per annum ---x
Part II 2.00% per annum ---y
Total investment
x + 1 y= 1900 -------------1
Interest on both investments
4.00% x + 2.00% y= 58
Multiply by 100
4 x + 2 y= 5800.00 --------2
Multiply (1) by -4
we get
-4 x -4 y= -7600.00
Add this to (2)
0 x -2 y= -1800
divide by -2
y = 900
Part I 4.00% $ 1000
Part II 2.00% $ 900
