Question
Akshay invested Rs. 1200 in two schemes P and Q in the
respective ratio of 7:3. Scheme P and Q are offering simple interest at the rate of 10% per annum and 12% per annum, respectively. Find the interest obtained after 2 years from scheme P.Solution
Amount invested in scheme P = (7/10) × 1200 = Rs. 840 Interest earned from scheme P = 840 × 10% × 2 = Rs. 168
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