SOLUTION: laura borrowed a total of 22,000 from two different banks to start a business. one bank charged the equivalent of 6% simple interest, and the other charged 7.5% interest. if the to

The condition talks about simple interest.


So, the total simple interest after 1 year is   = 1365 dollars.


Then you have these two equations


    x +      y = 22000   dollars    (equation 1)   ("a total is 22,000 from two different banks")

0.06x + 0.075y =  1365   dollars    (equation 2)   (the total interest after one year)



From equation (1), express x = 22000-y  and then substitute it into equation (2), replacing x.
You will get a single equation for unknown y:



0.06*(22000-y) + 0.075y = 1365,

0.075y - 0.06y = 1365 - 0.06*22000  ====>  y =  = 3000 dollars.


Answer.  $3000 were bprrowed at 7.5%;  the rest  #22000 - $3000 = $19000 were borrowed at 6%.


Check.  0.06*19000 + 0.075*3000 = 1365 dollars.  ! Correct !