Question

an investor invested a total of $1700 in two mutual funds. one fund earned a 5% profit value while the other earned 2% profit. if the investor's profit was $67, how much was in each mutual fund? the amount invested in the fund that earned 5% was __________. the amount invested in the fund that earned 2% was ________

Answer 1

let us assume investment in the first be x
so total profit 0.05x + 0.02(1700-x) = 67
Now solve for x

Answer 2

85

Answer 3

i think

Answer 4

are you sure?

Answer 5

try solving the equation

Answer 6

i dont get it

Answer 7

Solve the equation mentioned by ankit above:
0.05x + 0.02(1700-x) = 67
0.05x + (0.02)(1700) - 0.02x = 67
0.03x + 34 = 67
0.03x = 33
x = 1100
So the amount invested in the fund that earned 5% was $1100.
The amount invested in the fund that earned 2% was $600.