Question

A bank lent $200,500 for the development of two products. If the loan for product X was for $50,500 more than that for product Y, how much was lent for product Y?

Answer 1

$75,000

Explanation:

Given:

Total loaned amount = $200,500

Amount loaned for product Y = y

So, Amount loaned for product X = $50,500 + y

Computation:

Total loaned amount = Amount loaned for product Y + Amount loaned for product X

$200,500 = y + $50,500 + y

$200,500 = 2 y + $50,500

$200,500 - $50,500 = 2 y

$150,000 = 2 y

y = $75,000

Therefore, money loaned for product Y is $75,000