Question

Loan X has a principal of $10,000x and a yearly simple interest rate of 4%. Loan Y has a principal of $10,000y and a yearly simple interest rate of 8%. Loans X and Y will be consolidated to form Loan Z with a principal of $(10,000x + 10,000y) and a yearly simple interest rate of r%, where r = (4x+8y)/(x+y). In the table, select a value for x and a value for y corresponding to a yearly simple interest rate of 5% for the consolidated loan. Make only two selections, one in each column.

..........X..........Y..........Value
(A)..............................21
(B)..............................32
(C)..............................51
(D)..............................64
(E)..............................81
(F)..............................96

Answer 1

X = 96 and Y = 32

Step-by-step explanation:

Data provided in the question

X amount = 4%

Y amount = 8%

Now based on this the equation is

r = (4x + 8y) ÷ (x+y)

Now put 5% at the rate place

The x and y is

5 = (4x + 8y) ÷ (x + y)

5x + 5y = 4x + 8y

x = 3y

Now looking the options as we can see that if X = 96 so Y would be 32

Therefore X = 96 and Y = 32