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%?

• 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
• 12 years agoHelpfull: Yes(3) No(2)
• 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%.
• 12 years agoHelpfull: Yes(1) No(2)
• 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
• 12 years agoHelpfull: Yes(1) No(1)
• x+y=1200 ..................eq1
  (5/100)x+(7/100)y=72
  5x+7y=7200 ................eq2
  
  solving eq1 and eq2
  we get x=600
• 11 years agoHelpfull: Yes(0) No(0)