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S deposits a total of Rs.50,000 in two accounts which give 8% and 12% simple interest annually, respectively. After one year, he gets a total Rs.5,200. How much money does he deposit in the account with a 12% interest rate?
Rs.30,000
Rs.32,000
Rs.20,000
Rs.25,000
- Let's break down the problem: S divides Rs.50,000 into two parts for two accounts.
- Account 1 earns 8% interest, Account 2 earns 12% interest.
- After one year, the total interest earned is Rs.5,200.
- Set the money deposited in the 12% account as Rs.x.
- Therefore, money deposited in the 8% account is Rs.(50,000 - x).
- The equation for total interest is:
- 0.08(50,000 - x) + 0.12x = 5,200
- Simplifying the equation:
- 4,000 - 0.08x + 0.12x = 5,200
- 0.04x = 1,200
- x = 30,000
- Therefore, Rs.30,000 is deposited in the account with a 12% interest rate.
- Correct Answer: Option 1, Rs.30,000
By: Parvesh Mehta ProfileResourcesReport error
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