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

    Question

    Rs. 9,000 is invested in scheme ‘A’ offering simple

    interest of 20% p.a. and Rs. 6,500 in scheme ‘B’ offering simple interest of 8% p.a. What is the difference in interests earned from the two schemes after 3 years?
    A Rs. 3840 Correct Answer Incorrect Answer
    B Rs. 3240 Correct Answer Incorrect Answer
    C Rs. 3340 Correct Answer Incorrect Answer
    D Rs. 3440 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Interest earned from scheme ‘A’ = (9000 × 3 × 20) ÷ 100 = Rs. 5400 Interest earned from scheme ‘B’ = (6500 × 3 × 8) ÷ 100 = Rs. 1560 So, difference in interest earned = 5400 – 1560 = Rs. 3840

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question