Question

an investor invested a total of 2100 in two mutual funds one fund earned 4% while the other earned a 2% profit if the investors total profit was 70 how much was invested into each fund

Answer 1

please help!!!

Answer 2

Total investment = $2100
Amount invested for 4% profit = x
Amount invested for 2% profit = 2100-x
Total Profit = $70


(Amount invested for 4% profit)(4%)+ (Amount invested for 2% profit)(2%)= Total Profit
(x)(4/100)+ (2100-x)(2/100)= 70
Multiply by 100 both sides
(100)(x)(4/100)+ (100)(2100-x)(2/100)= 70*100
4x+(2100-x)(2)= 7000
4x+4200-2x=7000
2x=7000-4200



2x=2800
x=2800/2
x=1400


Amount invested for 4% profit = x = 1400
Amount invested for 2% profit = 2100-x = 2100-1400=700

Check:

4% of 1400 = (4/100)(1400)=56
2% of 1100 = (2/100)(700)=14
Total profit = 56+14=70