# 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?

Dec 8, 2016

10.25%

#### Explanation:

In one year the deposit of $7000 would give simple interest of $7000 \cdot \frac{11}{100}$=$770

The deposit of $1000 would give simple interest of $1000 \cdot \frac{5}{100}$=$50

Thus the total interest on deposit of $8000 is 770+50=$820

Therefore percent interest on \$8000 would be 820*100/8000= 82/8%#= 10.25%