Question
Mr. X invested Rs. 1200 in two schemes, A and B in the
ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 9% per annum and 12% per annum. Find the total interest obtained from both schemes after 2 years.Solution
Amount invested in scheme A = (7/10) Ă— 1200 = Rs. 840 Amount invested in scheme B = (3/10) Ă— 1200 = Rs. 360 Interest earned from scheme A = 840 Ă— 9% Ă— 2 = Rs. 151.2 Interest earned from scheme B = 360 Ă— 12% Ă— 2 = Rs. 86.4 Therefore, required total interest = 151.2 + 86.4 = Rs. 237.6
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