SOLUTION: A bank loaned out php12.000, part of it at the rate of 8%per yaer and the rest at the rate of 18%per year. If the invest recieved totaled php1,000, how much was loaned at 8%

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Question 97678: A bank loaned out php12.000, part of it at the rate of 8%per yaer and the rest at the rate of 18%per year. If the invest recieved totaled php1,000, how much was loaned at 8%
Answer by stanbon(75887)   (Show Source): You can put this solution on YOUR website!
A bank loaned out php12.000, part of it at the rate of 8%per yaer and the rest at the rate of 18%per year. If the invest recieved totaled php1,000, how much was loaned at 8%
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Let amount invested at 8% be "x" ; interest on that is 0.08x dollars
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Amt invested at 18^ is "12,000-x"; int is 0.18(1200-x)= 2160-0.18x dollars
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EQUATION:
interest + interest = 1000
0.08x + 2160-0.18x = 1000
-0.10x = -1160
x = 11,600 (amount invested at 8%)
12,000-11600 = 400 (amount invested at 18%)
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Cheers,
Stan H.
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