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12 August, 16:08

A Bank loaned out $20, 000 part of it at the rate of 6% per year and the rest at 14% per year if the interest received in one year total 2000 how much was it loaned at 6%

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  1. 12 August, 19:06
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    Let x = amount loaned at 6%

    Then,

    20000-x=amount loaned at 14%

    .06x+.14x (20000-x) = 2000

    .06x+2800-14x=2000

    2800-0.8x=2000

    -0.8x=-800

    X=10000 (answer)
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