Question : S deposits a total of INR 50,000 in two accounts which give 8% and 12% simple Interest annually, respectively. After one year, he gets a total of INR 5,200. How much money does he deposit in the account with a 12% interest rate?
Option 1: INR 30,000
Option 2: INR 32,000
Option 3: INR 20,000
Option 4: INR 25,000
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Correct Answer: INR 30,000
Solution :
Let the amount in the account with 12% interest be $x$ and the amount in the account with 8% be (50000 – $x$).
According to the question,
$\frac{(50000-x)\times8}{100}+\frac{x\times 12}{100} = 5200$
⇒ $400000-8x+12x = 520000$
⇒ $4x=120000$
$\therefore x=30000$
Hence, the correct answer is INR 30,000.
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