Question

I do not understand how to solve this problem. Can someone show me how to do it step by step?
Q= An investor invested a total of $3,100 in two mutual funds. One earned 4% profit while the other earned a 2% profit. If the investors total profit was $100, how much was invested in each fund?
4% was=
2% was=

Answer 1

call the amount the investor put into the first mutual fund 'x' and the amount invested in the second 'y'. We should have the following relations:
x+y=3100
1.02x+1.04y=100

Answer 2

You should be able to solve it from here since we have two equations and two unknowns...let me know if you get stuck.

Answer 3

I will attempt to solve it now.

Answer 4

actually I'm thinking I made a mistake on the second equation. I think it should be:
0.02x+0.04y=100
since we only want the profit

Answer 5

0.02x+0.04(3100-x)=100
-0.02x=-24
x=$1200
so,
y=3100-1200=$1900

Answer 6

4%=1900
2%==1200

Answer 7

agreed

Answer 8

Thank you, I have been trying to figure that out for the past 30 mins.

Answer 9

no prob :)