Question

Question is below pls answer

Answer 1

Answer:

Loaned out at 12% per annum = $19000

Loaned out at 7% per annum = $12500

Step-by-step explanation:

Let the bank loaned out $x at the rate of 12% annual interest.

Then it loaned out at 7%annual interest rate = $(31500 - x)

According to the question,

3155 =[{ x × 1 × 12/100} + {( 31500 - x) × 1 × 7/100}]

or, 3155 = [12x/100 + {(31500 -x) ×7/100}]

or 3155 = [12x/100 + 2205 - 7x/100]

or 3155 - 2205 = 12x/100 -7x/100

or, 950 = 5x/100

or, 950 = x/20

or, x = 950 ×20 = 19000

Loaned out at 12% per annum = $19000

Loaned out at 7% per annum = $31500 -$19000 = $12500

where,

SI = P × R × T/100

And T = 1 year