Algebra word problems

[tootlescar47]

Total amount of 1,400 hundred dollars in two mutual funds. One earned 8% and the other earned 3% profit. The investor's profit was 67 dollars. How much was invested in each mutual fund.I am just not getting this Algebra stuff can anyone show me step-by-step!

 

[DrPhil]

Total amount of 1,400 hundred dollars in two mutual funds. One earned 8% and the other earned 3% profit. The investor's profit was 67 dollars. How much was invested in each mutual fund.I am just not getting this Algebra stuff can anyone show me step-by-step!

We can give hints, and then check your work.

Call the amount in the 1st fund X.
If the total of the two is $1400, how much is in the second?
The earnings from the first are 8% of X, and the earnings from the second are 3% of its invested amount.
[Write the earnings in terms of X .. that is, since you don't yet know X, leave it in the equations as a symbol.]

Add the two earnings together and set the sum to $67.
That will give you an equation with everything but X known. Use the steps you have learned for linear equations to solve for X.

If you need more help, show us what you have done for each step so we can see where you get stuck.