Question
An investor invested a total of $2000 in two mutual funds. One fund earned 9% profit while the other earned a 6% profit. If the investor's total profit was $129, how much was invested in each mutual fund?
Answers
Reiny
let one be $x
the other $ (2000-x)
.09x + .06(2000-x) = 129
times 100
9x + 6(2000-x) = 12900
9x + 12000 - 6x = 12900
3x = 900
x=300
$300 was invested at 9%, and 1700 was invested at 6%
check:
.09(300) + .06(1700) = 129
the other $ (2000-x)
.09x + .06(2000-x) = 129
times 100
9x + 6(2000-x) = 12900
9x + 12000 - 6x = 12900
3x = 900
x=300
$300 was invested at 9%, and 1700 was invested at 6%
check:
.09(300) + .06(1700) = 129