Question
Akshay invested Rs. 960 in two schemes P and Q in the
respective ratio of 5:3. Scheme P and Q are offering simple interest at the rate of 7% per annum and 10% per annum, respectively. Find the interest obtained after 2 years from scheme P.Solution
Amount invested in scheme P = (5/8) × 960 = Rs. 600 Interest earned from scheme P = 600 × 7% × 2 = Rs. 84
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