Maximize JR Pass and Fuji-Hakone pass

What is the economical way from TOKYO to Mt. Fuji and Hakone using JRPass and Fuji-Hakone Pass?

With the combination of JR Pass and Fuji-Hakone Pass:
- Tokyo to Hakone (or reverse direction) is completely free. Take the shinkansen from Tokyo station to Odawara station (covered with JR Pass), then ride the Hakone Tozan train from Odawara to Hakone-Yumoto station (covered with Fuji-Hakone Pass)
- Tokyo to Kawaguchiko (or reverse direction) is only partly covered. You can take the limited express train from Shinjuku station to Otsuki station (covered with JR Pass), then take the Fujikyu train from Otsuki to Kawaguchiko station (although this is a Fujikyu train, but this part is not covered by JR Pass or Fuji-Hakone Pass, and it will cost 1,140 Yen with an additional express fee if you take a limited express train)

What does your "Mt. Fuji" refer to?
Japan's highest mountain itself?
The Fuji Five Lakes?

Fuji Hakone Pass has two versions.
https://www.japan-guide.com/e/e2358_014.html

The complete version covers
the leg from / to Shinjuku to / from Odawara by Odakyu Electric Railway
and the leg from / to Kawaguchiko to / from Shinjuku by highway bus,
which lets you make a round trip within 3 consecutive calendar days
from Tokyo to the Hakone area and the Fuji Five Lakes area.

"JR Pass" is ambiguous,
because there exist various passes which are issued by one or plural JR companies.
A nationwide Japan Rail Pass is too expensive solely for this Fuji - Hakone trip from Tokyo.

If you already have the passes, then the additional cost is zero.
If you do not have the pass, the most economical (lowest cost) way is single tickets on the train or by bus.

Without knowing what you actually want to do across your whole trip it is hard to provide better information.