Answer:
The amount invested in first mutual fund = P = 1800
The amount invested in second fund = 700
Step-by-step explanation:
The total amount invested in two mutual funds = 2500
The total profit earned in both mutual funds = 176
The profit percent in first mutual fund = 9%
The profit percent in second mutual fund = 2%
Now, let us assume the amount invested in first mutual fund = P
So, the amount invested in second fund = 2500 - P
Calculating the profits ,we get:
9% of P = [tex]\frac{9}{100} \times P = 0.09P[/tex]
2% of ( 2500 - P) = [tex]\frac{2}{100} \times (2500 -P) = 0.02(2500 -P)[/tex]
Also, total profit = 176
⇒Profit Amount from (First + Second) mutual fund = 176
⇒0.09 P + 0.02(2500 -P) = 176
or, 0.09 P + 50 - 0.02 P = 176
or, 0.07 P = 126
or, P = 126/0.07 = 1800
or, P = 1800
Hence, the amount invested in first mutual fund = P = 1800
The amount invested in second fund = 2500 - P = 2500- 1800 = 700
