SOLUTION: An invester invested a total of $1,800 in two mutual funds. One fund earned a 6% profit and the other earned a 3% profit. If the invester's total profit was $90 how much was invest
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Question 766087: An invester invested a total of $1,800 in two mutual funds. One fund earned a 6% profit and the other earned a 3% profit. If the invester's total profit was $90 how much was invested in each mutual fund
What I think was invested in the mutual fund with 6%= $630
What I think was invested in the mutual fund with 3%= $1,170
am i correct or am I wrong if wrong help me understand please. 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 3.00% per annum ------------ Amount invested = y
1800
Interest----- 90.00
Part I 6.00% per annum ---x
Part II 3.00% per annum ---y
Total investment
x + 1 y= 1800 -------------1
Interest on both investments
6.00% x + 3.00% y= 90
Multiply by 100
6 x + 3 y= 9000.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -10800.00
Add this to (2)
0 x -3 y= -1800
divide by -3
y = 600
Part I 6.00% $ 1200
Part II 3.00% $ 600
