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An investor invested a total of $2,100 in two mutual funds. One fund earned a 5% profit while the other earned a 3% profit. If the investor’s total profit was $83, how much was invested in each mutual fund?

The amount invested in the mutual fund that earned 5% was $___.

The amount invested in the mutual fund that earned 3% was $___.

Respuesta :

NgShiYin

Answer:

The amount invested in the mutual fund that earned 5% was $1000.

The amount invested in the mutual fund that earned 3% was $1100.

Step-by-step explanation:

Let the amount invested in the mutual fund that was earned 5% be x and the amount invested in the mutual fund that earned 3% be y.

Statement 1: [tex]\frac{5}{100}[/tex]X+[tex]\frac{3}{100}[/tex]y = 83

Statement 2: x+y = 2100

I'll use the elimination method:

Statement 1 × 20: x+[tex]\frac{60}{100}[/tex]y = 1660

Minus Statement 1 × 20 from Statement 2: x+y-x-[tex]\frac{60}{100}[/tex]y = 2100-1660

[tex]\frac{40}{100}[/tex]y = 440

y = [tex]\frac{100}{40}[/tex]×440

  = 1100

x = 2100-1100

  = 1000

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