Answer:
$25,000(In fund)
$8,000(In stock)
Explanation:
Given:
Total Amount Invested = $33,000
Net profit = $2,260
Let:
Amount invested in fund = a
So, Amount invested in stock = $33,000 - a
Net Profit = Profit in Fund - Loss in stock
$2,260 = 10% of (a) - [3% of ($33,000 - a)]
$2,260 = 0.10a - ($990 - 0.03a)
$2,260 = 0.10a - $990 + 0.03a)
$3250 = 0.13a
$25,000 = a
Amount invested in fund = $25,000
Amount invested in stock = $33,000 - a
Amount invested in stock = $33,000 - $25,000
Amount invested in stock = $8,000
