A Bank Lent Million for the Development of Three

question 60

Multiple Choice

A bank lent million for the development of three new products, with one loan at 6%, one loan at 7%, and the third loan at 8%. The amount lent at 8% was equal to the sum of the amounts lent at the other two rates, and the bank's annual income from the loans was . How much was lent at each rate? ​

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Definitions:

Majority

The greater part or number; the number over half of a total.

Conform

To adjust one's behavior or beliefs to align with the standards, norms, or expectations of a group or society.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered the societal norm.

Minority Of One

Describes an individual who stands in opposition or holds a different opinion from the rest of a group, often facing pressure to conform.