An investor invested a total of $1,300 in two mutal funds. One fund earns a 5% profit while the other earned a 3% profit. If the investor's total profit was $55, how much was invested in each mutal fund?

Question

anonymous · Answer

The total amount of money invested is $1300, so if "x" dollars go into the first fund, then "1300 - x" dollars go into the second fund.

anonymous · Answer

And you are given the total profit as $55, so let's write an equation that uses the profit information... the total profit and the amount of profit earned in each fund.

anonymous · Answer

Total profit = (amount in fund A)(profit percentage from fund A) + (amt in B)(profit % from B)

anonymous · Answer

Total profit = $55 = x * 5%  +  (1300 - x) * 3%

anonymous · Answer

see I am lost becsuse I keep multiplying it but getting 65 wihch I know is wrong, let me try again

anonymous · Answer

would it be 39.05?

anonymous · Answer

You need to solve for x...that's the amount in the 5% account.  Then subtract that x amount from 1300 to get the amount in the 3% account.

anonymous · Answer

That is where I am confused at, I don't know how to solve for x

anonymous · Answer

55 = x * 5%  + (1300 - x) * 3%

To make it easier, why don't you multiply everything through by 100 to get rid of the percentages...

100 * 55 = 100 * x * 5%  + 100 * (1300 - x) * 3%
Simplifying (on the right side, 100 times the percentage leaves just 5 and 3):
5500 = 5x + (1300 - x)(3)

anonymous · Answer

So:
5500 = 5x + (1300 - x)(3)
Then simplify the last part by distributing the 3:
5500 = 5x + (3900 - 3x)
And simplify again:
5500 - 3900 = 2x
Then:
1600 = 2x
which means:
800 = x

anonymous · Answer

It's just a matter of step by step, moving terms around to isolate "x".

anonymous · Answer

I'm sorry, but I have to run... but I think you have good help arriving :)

anonymous · Answer

Thank you

hero · Answer

Total amount invested
x + y = 1300

Total profit:
.03x + .05y = 55

Solve using systems of equations:

x + y = 1300
.03x + .05y = 55

.03x + .03y = 39
.03x + .05y = 55

.03x + .05y = 55
-.03x - .03y = -39

.02y = 16
     y = 16/.02
     y = 800
     x = 500

anonymous · Answer

Okay so which one is 5% and 3%?

anonymous · Answer

lol ok