find the mutual funds percentage.

an investor invested a total of 1900 in two mutual funds. One fund earned 8% profit while the other earned 3%. If the investor's total profit was72, how much was invested in each mutual fund?

Answers
In general when solving percentage problems, always convert percentages into fractions or decimals. That way they become easier to handle, at least when dealing with other numbers. So for this problem, we have two mutual funds that we'll call M and F. Then we know the following facts: 1 - Total amount invested in M, plus total amount invested in F = 1900. Or just M + F = 1900. 2 - After the profits, new total funds = 1900 + 72 = 1972. Suppose M made 8% profit and F 3%. Then 8% profit means that the amount of funds on M has gone up by 8% of what there was to start with, or (8/100)*M, so that we end up with 1.08M. Similarly for F. So the second thing we know is that 1.08M + 1.03F = 1972 So the problem can be expressed by the two equations below. M + F = 1900 1.08M + 1.03F = 1972 These are two linear simultaneous equations in two unknowns, so you can solve these using whatever method you choose.
jim360
19 August 2012
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