document.write( "Question 30799: Diffence between two loans is $10000, both loans have 5% annual interest rate. If the total interest is $2000 after one year how much was each loan? \n" ); document.write( "
Algebra.Com's Answer #17514 by Fermat(136)![]() ![]() You can put this solution on YOUR website! Call the two loans L1 and L2. with L1 > L2 \n" ); document.write( "Then, L1 - L2 = 10,000 \n" ); document.write( "commom interest rate = 5% \n" ); document.write( "I1 = interest on L1 \n" ); document.write( "I2 = interest on L2 \n" ); document.write( "I1 = %5*L1 = 0.05L1 \n" ); document.write( "I2 = %5*L2 = 0.05L2 \n" ); document.write( "I1 + I2 = 2000 \n" ); document.write( ".: 0.05L1 + 0.05L2 = 2000 \n" ); document.write( "0.05(L1 + L2) = 2000 \n" ); document.write( "dividing both sides by 0.05 \n" ); document.write( "L1 + L2 = 40,000 ----------------(1) \n" ); document.write( "but \n" ); document.write( "L1 - L2 = 10,000 ----------------(2) \n" ); document.write( "adding (1) and (2), \n" ); document.write( "2L1 = 50,000 \n" ); document.write( "L1 = 25,000 \n" ); document.write( "=========== \n" ); document.write( "L2 = 15,000 \n" ); document.write( "=========== \n" ); document.write( " |