amount invested in fund with 7% profit, and amount invested in fund with 5% profit.

Question

an investor invested a total amount of $1900 in two mutual funds. One fund earned a 7% profit while the other earned a 5% profit. If the total amount of profit was $117, how much was invested in each mutual fund?

Answer 1

Another way to solve this as follows keeping in mind that x% is in one fund and 100-x% is in the other fund:

 

x*1.07 + (1900-x)*1.05 = 2017

 

x*1.07 +1900*1.05 - x*1.05 = 2017

 

.02x = 22

 

x = 1100, the other is 800.

Answer 2

I'm assuming that this is after one year.

 

We invested x in one fund at 7%, and y in the other fund at 5%, and the interest from both funds adds up to $117.

x + y = 1900

 

.07x + .05y = 117

 

I'm going to solve for y, which was invested in the 5% fund.

 

x = 1900 - y

 

.07(1900 - y) + .05y = 117

 

13300 - .07y + .05y = 117

 

13300 - .02y = 117

 

-.02y = -16

 

.02y = 16

 

y = 800

 

 

So we invested $800 in the 5% fund, which means we invested $1100 in the 7% fund. We can check this:

$800 * .05 = $40

$1100 * .07 = $77

$77 + $40 = $117