Question

A man deposited tk. 3,000 in a Bank and tk. 2,500 in a Post Office. Rate of interest of Bank is 1/2% more than that of Post Office. If he gets tk. 235 as total interest at the end of the year, the rate of interest of Post Office is

Answer 1

Answer:

4 %

Step-by-step explanation:

A man deposited tk. 3,000 in a Bank and tk. 2,500 in a Post Office. Rate of interest of Bank is 1/2% more than that of Post Office. If he gets tk. 235 as total interest at the end of the year, the rate of interest of Post Office is

Let say rate of interest of Post office = R %

Rate of Interest of Bank = R + 1/2  %

Deposited in Post Office = tk. 2500

Time = 1 Year

Interest from Post office = 2500 * R * 1 /100 = 25R  tk

Deposited in Bank = tk. 3000

Time = 1 Year

Interest from Post office = 3000 * (R+1/2) * 1 /100 = 30R + 15  tk

Total Interest = 25R + 30R + 15 = 55R + 15

55R + 15 = 235

=> R = 220/55

=> R = 4

the rate of interest of Post Office is 4 % per Annum