Answer:
amount invested in funds that earned 10% is $25,000, while the amount invested in stock that suffered 3% loss $3,000.
Step-by-step explanation:
Let x be the amount invested in funds that earned 10%.
Then the amount invested in stock that suffered 3% loss is 28,000 - x.
The profit from investment in funds is 10%x
The loss from investment in stock is 3%(28,000 - x).
The net profit is 10%x - 3%(28,000 - x).
As the net profit given in the problem is $2410, we have:
10%x - 3%(28,000 - x) = 2410
Solving for x, we have:
10x - 3(28,000 - x) = 241000 (multiply both sides by 100)
10x - 84000 + 3x = 241000
13x = 241000+84000
13x = 325000
x = 325000/13
x = 25,000
So
the amount invested in funds that earned 10% is $25,000.
the amount invested in stock that suffered 3% loss is 28,000 - x = 28000 - 25000 = $3,000.
