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Selim deposited a total of taka 120,000 in two savings accounts for one year. One account offered him 8% interest and the other 10% . If he earned taka 10,000 as interest, how much did he deposit at 8% ?

Selim deposited a total of taka 120,000 in two savings accounts for one year. One account offered him 8% interest and the other 10% . If he earned taka 10,000 as interest, how much did he deposit at 8% ? Correct Answer TK. 100,000

Let the amount deposited at 8% and 10% interest be X and (120000 - X) respectively. Interest, I = P n r Now,  X × 1 × 8/100 + (120000 - X) × 1 × 10/100 = 10000 [total interest] 8X + 10(120000 - X) = 1000000 [multiplying both sides by 100] or, 8X + 1200000 - 10X = 1000000 or,  10X - 8X = 1200000 - 1000000 or,  2X = 200000 So,  X =   100,000 TK

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