Question

An investor invested a total of $3,300 in two mutual funds. One fund earned a 4% profit while the other earned 2% profit. If the investors total profit was $94, how much was invested in each mutual fund

Answer 1

.04x + .02($3,300 - x) = $94

.04x + $66 - .02x = $94

.02x = $28

x = $1,400 in 4% fund

$3,300 - $1,400 = $1,900 invested in 2% fund