Question 1122307
.
<pre>
x = amount invested in Fund A.

y = amount invested in Fund B.


From the condition you have this system of 2 equations in 2 unknowns


    x +      y = 24000,         (1)
0.02x + 0.06*y = 0.03*24000.    (2)


Multiply eq(1) by 0.02 (both sides). You will get the system in the form


0.02x + 0.02y  = 0.02*24000,    (1')
0.02x + 0.06*y = 0.03*24000.    (2')


Subtract eq(1') From eq(2')  (both sides).  You will get


0.04y = 0.01*24000  ====>  y = {{{(0.01*24000)/0.04}}} = 6000.


<U>Answer</U>.  $6000 was invested at 6%.  The rest  $24000 - $6000 = $18000 was invested at 2%.


<U>Check</U>.   0.06*6000 + 0.02*18000 = 720 dollars.


         0.03*24000 = 720 dollars.   ! Correct !
</pre>

Solved.


--------------


It is a typical and standard problem on investment.


To see many other similar solved problems on investment, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/coordinate/lessons/Using-systems-of-equations-to-solve-problems-on-investment.lesson>Using systems of equations to solve problems on investment</A>

in this site.


You will find there different approaches &nbsp;(using one equation or a system of two equations in two unknowns), &nbsp;as well as 
different methods of solution to the equations &nbsp;(Substitution, &nbsp;Elimination).


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lesson is the part of this online textbook under the topic &nbsp;"<U>Systems of two linear equations in two unknowns</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.