Same amounts are invested in two schemes with 8% interest for 2 years, one scheme at S.I. and another scheme at CI. If he received Rs. 41875.2 after 2 years then find the simple interest he earned.
Let the amounts be Rs. 100. Then after 2 years, => SI = 16 => CI = 16.64 Simple interest he earned = (41875.2/232.64) × 16 = Rs. 2880
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