Question

Question #9262d

Answer 1

1st loan amount is`=750`
2nd loan amount is `=450`

Explanation:

Interest amount cannot be `855`
Logically speaking the yield of 1200 for highest of both interest rate `9%` is `=1200xx9/100=108`
Interest amount must be `=85.5`

Given -
A student's total of two loans `=1200`
Interest on 1st loan `=6%`
Interest on 2nd loan `=9%`

Let the 1st loan amount be `=x`
Let the 2nd loan amount be `=1200-x`

Interest on 1st loan `=x xx 6/100 xx1=(6x)/100`

Interest on the 2nd loan `=(1200-x) xx9/100 xx 1= [(10800-9x)]/100=(10800-9x)/100`

Interest on both the loans `=(6x)/100+(10800-9x)/100=(6x+10800-9x)/100=(10800-3x)/100`

`(10800-3x)/100=85.5`
`10800-3x=85.5xx100=8550`
`-3x=8550-10800=-2250`
`x=(-2250)/(-3)=750`

1st loan amount is`=750`
2nd loan amount is `=1200-750=450`