Question #2f094

1 Answer
Binayaka C.
Jan 27, 2017

In short term note is #$85000# and in long term note is #$65000#.

Explanation:

Let amount #$x # is in short term note at #11%# interest
Then amount #$(150000-x) # is in long term note at #9%# interest

By given terms # x*0.11 + (150000-x) *0.09 = 15200 or 0.11x-0.09x=15200 - (150000*0.09) or 0.02x = 15200 -13500 or 0.02x=1700 or x= 1700/0.02= $85000 :. (150000-x)= 150000-85000= $65000#

The amount in short term note is #$85000# and
the amount in long term note is #$65000# [Ans]

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