an investor invested a total of 2,900$ in two mutual funds. 1 fund earned 8% profit with the other earned 3% profit. If the investors total profit was $172. how much was invested in each mutual fund?

Question

anonymous · Answer

Do you know where to start?

anonymous · Answer

no

tkhunny · Answer

Name the funds.  Seriously, just given them names.

anonymous · Answer

Ok, if the investor invested $2900 and received a profit of $172, can you calculate the return the investor generated?

anonymous · Answer

@cvien 

If he invested in total of $2,900, then one investment  was x dollars and the other investment was 2900 - x. Makes no difference which investment is x, and which is 2900 - x.

So we have 2 investments, one at 8% and the other at 3%.

So the profit made on each investment is:
.08x for the 8% investment
.03(2900 - x) on the 3% investment

So your equation is .08x + .03(2900-x) = 172

Because the total prfit on both investments was given to be $172.00

Now, you can solve for x, and find out how much was invested at each rate.