how much was invested in each mutual​ fund?

Question

An investor invested a total of ​$2,400 in two mutual funds. One fund earned a 5​% profit while the other earned a 3​% profit. If the​ investor's total profit was ​$94, how much was invested in each mutual​ fund?

Answer 1

x + y = 2400

0.05x + 0.03x = 94

Since x + y = 2400, y = 2400 - x.

So, 0.05x + 0.03(2400 - x) = 94

0.05x + 72 - 0.03x = 94

0.02x = 22

x = 1100 and y = 2400 - x = 1300

Invest $1100 in the first mutual fund and $1300 in the other.