SOLUTION: An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total inter

Question 535052: An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total interest for one year is $165, how much money is borrowed at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Amount @ 4.00% x
Amount @ 6.00% 1 x + 250
Total interest paid = 165

4.00% x+ 6.00% ( 1 x + 250 )= 165
4.00% x+ 6.00% * 1 x + 15 = 165
4.00% x+ 0.06 x + 15 = 165
0.04 x+ 0.06 x = 150
0.1 x = 150
x= 1500 Amount @ 4.00%

Amount @ 6.00% =1500 + 250 = 1750

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