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    Question

    A man invests a sum of money in two schemes: Scheme A

    offers 12% simple interest per annum, and Scheme B offers 15% compound interest per annum. He invests тВ╣50,000 in Scheme A for 3 years and тВ╣40,000 in Scheme B for 2 years. What is the total amount he receives after 3 years from both schemes?
    A тВ╣97,000 Correct Answer Incorrect Answer
    B тВ╣99,000 Correct Answer Incorrect Answer
    C тВ╣1,20,900 Correct Answer Incorrect Answer
    D тВ╣1,06,500 Correct Answer Incorrect Answer

    Solution

    For Scheme A (Simple Interest): Interest = P ├Ч R ├Ч T / 100 = 50,000 ├Ч 12 ├Ч 3 / 100 = тВ╣18,000. Amount from Scheme A = тВ╣50,000 + тВ╣18,000 = тВ╣68,000. For Scheme B (Compound Interest): Amount = P ├Ч (1 + R/100)^T = 40,000 ├Ч (1 + 15/100)^2 = 40,000 ├Ч (1.15)^2 = 40,000 ├Ч 1.3225 = тВ╣52,900. Total amount = тВ╣68,000 + тВ╣52,900 = тВ╣1,20,900. Correct option: c

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