Mr Ang invested half of his savings in a bond that paid simple interest at \(r\%\) per annum and received a total of \(\$550\) in interests after \(2\) years.
He invested the remaining in another bond that paid interest at \(r\%\) per annum compounded annually and received a total of \(\$605\) in interests after \(2\) years.
Find the value of \(r\).[4]
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