Two banks offer interest rate of 6 and 7 percent on savings account. Mr faruq deposited a total 4000 in tha banks and after one year, he got 250. Find the deposit in tha bank with 7% interest?
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Ans is 1000 rs deposited
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Answer:
1000
Step-by-step explanation:
assuming simple interest
let the deposit in bank with 6%interest be x and 7% interest be 4000-x
we know
SI = PTR/100
Now for 6% interest bank
interest = x*1*6/100
for 7% interest bank
interest = (4000-x)*7*1/100
total interest = 250
hence
(6x/100) + (28000-7x)/100= 250
solve above equation
x= 3000
therefore 4000-x = 1000
1000 is your answer.
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