Question

A bank loaned out ​$19 comma 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 totaled ​$2000​, how much was loaned at 6 % question mark

Answer 1

$8250 was loaned at 6% per year.

Step-by-step explanation

Total amount of loan is $19,000

Suppose, the amount of loan at 6% per year is
`x`

So, the amount of loan at 14% per year will be :
`(19000-x)` dollar.

Amount of interest in one year at 6%
`= x*0.06 = 0.06x` dollar and amount of interest in one year at 14%
`=(19000-x)*0.14=(2660-0.14x)` dollar.

As the total interest received in one year is $2000, so.....

`0.06x+(2660-0.14x)=2000\\ \\ -0.08x=2000-2660\\ \\ -0.08x=-660\\ \\ x=(-660)/(-0.08)=8250`

So, $8250 was loaned at 6% per year.