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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?

Respuesta :

aliford523

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%

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