Question

A man deposited 4200 in bank at 8% and rupees 1400 in post office at 6% find the interest of the whole sum​

Answer 1

Answer:

Calculation of Rate of Interest

Answer: rate of interest for whole sum is 7.5% in a year that is 7.5% P.A

Explanation:

Given that

a man deposited Rs 4200 in a bank at 8% per year.

And man deposited Rs 1400 in a post office at 6% per year.

Need to calculate rate of interest for wholesome.

lets first calculate total interest earned by man  in 1 year

In bank

Amount deposited in bank = 4200

Interest earned in 1 year from bank = 8% of 4200

                                                             = (8/100) x 4200

                                                             = Rs 336

Amount deposited in postoffice = 1400

Interest earned in 1 year from post office = 6% of 1400

                                                                   = (6/100) x 1400

                                                                   = 84

Total amout deposited = Amount deposited in bank  + Amount deposited in postoffice  = 4200 + 1400 = 5600

Total interest eared in 1 year = Interest earned in 1 year from bank  + Interest earned in 1 year from post office  = 336 + 84 = 420

so Interest earned in percentage = (Total interest eared in 1 year / Total amout deposited ) x 100

=> (420/5600) x 100 = 7.5%

Hence rate of interest for wholesum is 7.5% in a year that is 7.5% P.A.

Explanation: