Mr. X invested Rs. 640 in two schemes, A and B in the ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 4% per annum and 6% per annum. Find the total interest obtained from both schemes after 2 years.
Amount invested in scheme A = (7/10) × 600 = Rs. 420 Amount invested in scheme B = (3/10) × 600 = Rs. 180 Interest earned from scheme A = 420 × 4% × 2 = Rs. 33.6 Interest earned from scheme B = 180 × 6% × 2 = Rs. 21.6 Therefore, required total interest = 33.6 + 21.6 = Rs. 55.2
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