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19 April, 18:52

A bank loaned out $16000 , part of it at the rate of 8 % per year and the rest at 16 % per year. If the interest received in one year totaled $2000 , how much was loaned at 8 % question mark How much of the $16000 did the bank loan out at 8 % question mark

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  1. 19 April, 18:55
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    16000=x+y. (8x+16y) / 100=2000 8 (x+y) + 8y = 200000. 8y=200000-16000.8. 9000=y. 16000-9000=7000=x. x=7000
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