SOLUTION: an investor invested a total of 2500 in two mutual funds. One fund earned a 7% profit while the other earned a 5% profit. if the investors total profit $157, how much was invested
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Question 805496: an investor invested a total of 2500 in two mutual funds. One fund earned a 7% profit while the other earned a 5% profit. if the investors total profit $157, how much was invested in each fund. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 5.00% per annum ------------- Amount invested =x
Part II 7.00% per annum ------------ Amount invested = y
2500
Interest----- 157.00
Part I 5.00% per annum ---x
Part II 7.00% per annum ---y
Total investment
x + 1 y= 2500 -------------1
Interest on both investments
5.00% x + 7.00% y= 157
Multiply by 100
5 x + 7 y= 15700.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -12500.00
Add this to (2)
0 x 2 y= 3200
divide by 2
y = 1600 - x)
Part I 5.00% $ 900
Part II 7.00% $ 1600
