Latest CAT Aptitude Question SOLUTION: A total of $1200 is deposited in two savings accounts for one year, part at 5% and the remainder at 7%. If $72 was earned in interest, how much was deposited at 5%?

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(#M40009920) CAT question Keep an EYE

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

Asked In CAT Garima (11 years ago)

Solved chaitanya Read Solution (4)

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chaitanya  (11 years ago)

Let x be the amount deposited at 5%
Then 1200 –x is the amount deposited at 7%
The interest on these investments is .05x
and .07(1200 – x)
Since the total interest is $72,
we get .05x + .07(1200 –x) = 72
.05x+ 84 – .07x = 72
–.02x+ 84 = 72
–.02x = –12
x= 600

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Jeevan  (11 years ago)

Effective interest rate on total amt of Rs 1200 = 72*100/1200= 6%
which is possible only if equal amounts are invested @ 5% and 7%.

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aanchal sharma  (11 years ago)

if x be amount deposited at 5%
then 1200-x is deposited at 7% (because total is 1200)
s.i = (p*r*t)/100
interest is given by 72
72 = (x*5*1)/100 + (1200-x)*7*1/100
x = 600

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Huzefa Chikhly  (11 years ago)

x+y=1200 ..................eq1
(5/100)x+(7/100)y=72
5x+7y=7200 ................eq2

solving eq1 and eq2
we get x=600

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