Question

A man deposited 4200 in a bank at 16% and 1400 in a post office at 6%. find the interest for the whole sum for 1 year

Answer 1

$x + 6x + 1400 = 4200 \\ \\ 7x = 4200 - 1400 \\ \\ 7x = 2800 \\ \\ x = 2800 |7 \\ \\ x = 400 \: first \: year$

Answer 2

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Here is the solution:

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Find the interest from the deposit with the bank

interest = 16% of 4200 = 0.16 x 4200 = Rs 672

Find the interest from the deposit with the post office:

interest = 6% x 1400 =0.06 x 1400 = Rs 84

Find total interest:

Total interest = 672 + 84 = Rs 756

Answer: The total interest earned is Rs 756