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17 June, 19:21

An Investor invested a total of $2,600 in two mutual funds. One fund earned 7% profit while the other earned 3% profit. If the investor's total profit was $150, how much was invested in each mutual fund?

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  1. 17 June, 19:32
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    let x = amount invested at 3%

    so, (2600 - x) is invested at 7%

    .07 * (2600 - x) +.03 * (x) = 138

    182 -.07x +.03x = 138

    -.07x +.03x = 138 - 182

    -.04x = - 44

    -.04x / -.04 = - 44 / -.04

    x = 1,100

    so amount invested at 7% is (2600 - 1100) or 1500

    consequently amount invested at 3% is 1100

    $1,100 invested at 3%

    $1,500 invested at 7%
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