Aslamchacha got ₹1,00,00 when he retired from his service. He deposited some of that money in the bank and rest of his money in the post office and got ₹5400 in total per year as interest. If the rates of simple interest per annum in the and in the post office are 5% and 6%, respectively, then us write by calculating, the money he had deposited in the bank and post office.
Case 1: Money deposited in bank
P = 10000 - p, r = 5, t = 1 and I = ?
As we know,
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Case 2:For money deposited in the post-office
P = p, r = 6, t = 1 and I = ?
As we know,
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From question, the total interest is
= Interest from bank + Interest from post-office
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⇒ 540000 = -5p + 50000 + 6p
⇒ p = Rs 49,000
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