📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Mr. X invested Rs. 600 in two schemes, A and B in the

    ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 4% per annum and 6% per annum. Find the total interest obtained from both schemes after 2 years.
    A Rs. 55.2 Correct Answer Incorrect Answer
    B Rs. 50.2 Correct Answer Incorrect Answer
    C Rs. 57.2 Correct Answer Incorrect Answer
    D Rs. 54.2 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) × 600 = Rs. 420 Amount invested in scheme B = (3/10) × 600 = Rs. 180 Interest earned from scheme A = 420 × 4% × 2 = Rs. 33.6 Interest earned from scheme B = 180 × 6% × 2 = Rs. 21.6 Therefore, required total interest = 33.6 + 21.6 = Rs. 55.2

    Practice Next
    More Average Questions

    Relevant for Exams:

    ask-question
    9