Alam invested an amount of Tk. 13,900 divided in two different deposits at Bank X and Bank Y at the simple interest rate of 14 percent and 11 percent per annul. respectively. If the total amount of simple interest earned in two years is Tk. 3,508 what was the amount invested in the deposit of Bank Y? (Interest)

dsuc.created: 2 years ago | dsuc.updated: 2 years ago

dsuc.updated: 2 years ago

Let, the amount invested in Bank Y was = Tk. p

So, the amount invested in Bank X was= Tk. (13,900-p)

According to the question,

$p \times 2 \times 11 % + (13, 900 - p) \times 2 \times 14 % = 3508 \Rightarrow \frac{22 p}{100} + \frac{28 (13900 - p)}{100} = 3508 \Rightarrow 22 p + 389200 - 28 p = 350800 \Rightarrow 6 p = 3, 89, 200 - 350800 \Rightarrow 6 p = 38400 ∴ p = \frac{38400}{6} = 6400 T K .$