A total amount of ₹7000 is deposited in three different saving bank accounts with annual interest rates of 5%, 8% and respectively. The total annual interest from these three accounts is ₹550. Equal amounts have been deposited in the 5% and 8% savings accounts. Find the amount deposited in each of the three accounts, with the help of matrices.
Matching exercise
Match the items on the right to the items on the left.
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Let the deposited be x, y and z respectively. As per the Data we get, x + y + z = 7000 5x + 8y + 8.5z = 55000 x – y = 0
