SOLUTION: alex deposited a total of 25000 in bank a and bank b. two banks pay simple interest rates of 0.6% and 0.65% per annum. if the amount of interest he earned from each bank is the sam

Question 1172014: alex deposited a total of 25000 in bank a and bank b. two banks pay simple interest rates of 0.6% and 0.65% per annum. if the amount of interest he earned from each bank is the same, find the amount of money he deposited in each bank.
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
.


Let x be the amount invested at 0.65%.


Then the amount invested at 0.6% is  2500-x.


The condition gives us this equation


    0.065x = 0.06*(2500-x).


Solve it and find x.  Then evaluate 2500-x.

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