Word problem

Question

An investor invested a total of $1600 in two mutual funds. One fund earned 7% profit and the other 2% profit. If the investor total profit is $82, how much was invested in each mutual fund?

Answer 1

Let x = the amount invested at 7%

Let y = the amount invested at 2%

x + y = 1600       y = 1600 - x

.07x + .02y = 82      Multiply both sides by 100 to get rid of the decimal points.

7x + 2y = 8200

7x + 2(1600-x) = 8200

7x + 3200 - 2x = 8200

5x = 5000

x = $1000

y = 1600 - x = $600