Question

A bank loaned out ​$19 comma 000​, part of it at the rate of 6 % per year and the rest at 16 % per year. If the interest received in one year totaled ​$2500​, how much was loaned at 6 % question mark How much of the ​$19 comma 000 did the bank loan out at 6 % question mark?

Answer 1

$5,400

Step-by-step explanation:

In this question we have to assume the things which are shown below:

Let X be the amount in which the rate is 6%

And the rest amount i.e ($19,000 - X) in which the rate is 16%

So, the equation would be

0.06X + ($19,000 - X) × 0.16 = $2,500

0.06X + $3,040 - 0.16X = $2,500

-0.10X = $2,500 - $3,040

-0.10X = -$540

X = $5,400

So the amount at which 6% rate is charged is $5,400