Ask Question
Today, 17:11

An Investor invested a total of $2,600 in two mutual funds. One fund earned 7% profit while the other earned 3% profit. If the investor's total profit was $150, how much was invested in each mutual fund?

+2
Answers (1)
  1. Today, 18:35
    0
    let x = amount invested at 3%

    so, (2600 - x) is invested at 7%

    .07 * (2600 - x) +.03 * (x) = 138

    182 -.07x +.03x = 138

    -.07x +.03x = 138 - 182

    -.04x = - 44

    -.04x / -.04 = - 44 / -.04

    x = 1,100

    so amount invested at 7% is (2600 - 1100) or 1500

    consequently amount invested at 3% is 1100

    $1,100 invested at 3%

    $1,500 invested at 7%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An Investor invested a total of $2,600 in two mutual funds. One fund earned 7% profit while the other earned 3% profit. If the investor's ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers