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A total of Tk. 1200 is deposited in two savings accounts for one year, one portion at 5% simple interest, and the rest at 7% simple interest. If Tk. 72 was earned in interest, how much was deposited at 5%?

A total of Tk. 1200 is deposited in two savings accounts for one year, one portion at 5% simple interest, and the rest at 7% simple interest. If Tk. 72 was earned in interest, how much was deposited at 5%? Correct Answer 600

Let, Tk was deposited at 5% so, (1200 - x) was at 7% Total interest = 72 = . 5 × x + ( 1200 - x) ×. 07 = . 05x + 84 - . 07x x (. 05 - . 07) = 72 - 84 x × ( - .02) = - 12 x = 12/.02 = 600

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