A total of Tk. 1200 is deposited in two savings accounts for one year, one portion at 5% simple interest, and therest at 7% simple interest. If Tk. 72 was earned in interest, how much was deposited at 5%?
Solution
Correct Answer: Option C
let, portion with 5% interest be x
then,
5x/100 + 7*(1200 - x)/100 = 72
5x + 7*(1200 - x) = 7200
5x + 8400 - 7x = 7200
- 2x = 7200 - 8400
- 2x = - 1200
x = 600
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