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    Question

    Mr. X invested Rs. 700 in two schemes, A and B in the

    ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 5% per annum and 10% per annum. Find the total interest obtained from both schemes after 2 years.
    A Rs. 91 Correct Answer Incorrect Answer
    B Rs. 90 Correct Answer Incorrect Answer
    C Rs. 95 Correct Answer Incorrect Answer
    D Rs. 97 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) × 700 = Rs. 490 Amount invested in scheme B = (3/10) × 700 = Rs. 210 Interest earned from scheme A = 490 × 5% × 2 = Rs. 49 Interest earned from scheme B = 210 × 10% × 2 = Rs. 42 Therefore, required total interest = 49 + 42 = Rs. 91

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