New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Akshay invested Rs. 840 in two schemes P and Q in the

    respective ratio of 5:2. Scheme P and Q are offering simple interest at the rate of 10% per annum and 7% per annum, respectively. Find the interest obtained after 2 years from scheme P.
    A Rs. 120 Correct Answer Incorrect Answer
    B Rs. 168 Correct Answer Incorrect Answer
    C Rs. 96 Correct Answer Incorrect Answer
    D Rs. 216 Correct Answer Incorrect Answer
    E Rs. 192 Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme P = (5/7) × 840 = Rs. 600 Interest earned from scheme P = 600 × 10% × 2 = Rs. 120

    Practice Next