SOLUTION: A bank lends two people a total of $b. The first person pays x% interest and the second pays y% interest. The amount of interest received by the bank is the same for each loan. How
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Question 1104950: A bank lends two people a total of $b. The first person pays x% interest and the second pays y% interest. The amount of interest received by the bank is the same for each loan. How much was loaned at x%?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A bank lends two people a total of $b. The first person pays x% interest and the second pays y% interest. The amount of interest received by the bank is the same for each loan. How much was loaned at x%?
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Equations:
(x/100)m = i
(y/100)(b-m) = i
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x m = 100i
y(b-m) = 100i
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xm = y(b-m)
xm-ym = yb
m = (yb)/(x-y)
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Cheers,
Stan H.
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