bank loan question

Question

A bank loaned out $9,500, part of it at the rate of 3% annual interest, and the rest at 4% annual interest. The total interest earned for both loans was $325.00. How much was loaned at each rate?

Answer 1

Interest = Principle*Rate*Time

 

Let x = the amount of the principle loaned out at 3% (0.03).  The amount loaned out at 4% (0.04) is $9500-x.

 

Interest = x*(0.03)*(1 year) + ($9500-x)*(0.04)*(1 year)

 

$325 = 0.03x + 380 - 0.04x

 

Can you solve it from here?