SOLUTION: A bank loaned out ​$16 comma 000 ​, part of it at the rate of 7 % per year and the rest at 17 % per year. If the interest received in one year totaled ​$2

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Question 1038477: A bank loaned out
​$16 comma 000
​,
part of it at the rate of
7 %
per year and the rest at
17 %
per year. If the interest received in one year totaled
​$2000
​,
how much was loaned at 7 % question mark
Found 2 solutions by addingup, josmiceli:
Answer by addingup(3677)   (Show Source): You can put this solution on YOUR website!
0.07x+0.17(16,000-x) = 2,000
0.07x+2,720-0.17x = 2,000
-0.10x = -720 Divide both sides by 0.10 and remember -/- = +
x = 7,200 was loaned at 7%
Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
Let = the amount loaned at 7%
Let = the amount loaned at 17%
---------------------------------
(1)
(2)
--------------------------
(1)
Multiply both sides of (2) by and
subtract (2) from (1)
(1)
(2)
---------------------------


and
(2)
(2)
(2)
-------------------
$7,200 was loaned at 7%
--------------------------
check:
(1)
(1)
(1)
(1)
OK
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