Question
A person has ₹30,000 to invest in two different
schemes. If he invests ₹15,000 in Scheme A at 8% simple interest and the remaining in Scheme B at 10% simple interest, how much total interest will he earn after 2 years?Solution
Interest from Scheme A = Principal * Rate * Time = 15000 * 0.08 * 2 = ₹2,400. Interest from Scheme B = Principal * Rate * Time = 15000 * 0.10 * 2 = ₹3,000. Total interest earned = 2400 + 3000 = ₹5,400. Correct answer: A) ₹5,400
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