Last year, Lisa deposited $7000 into an account that paid 11% interest per year and $1000 into an account that paid 5% interest per year No withdrawals were made from the accounts. What was the percent interest for the total deposited?
1 Answer
Dec 8, 2016
10.25%
Explanation:
In one year the deposit of $7000 would give simple interest of
The deposit of $1000 would give simple interest of
Thus the total interest on deposit of $8000 is #770+50= $820
Therefore percent interest on $8000 would be
