Question
Akshay invested Rs. 1320 in two schemes P and Q in the
respective ratio of 8:3. Scheme P and Q are offering simple interest at the rate of 5% per annum and 8% per annum, respectively. Find the interest obtained after 2 years from scheme P.Solution
Amount invested in scheme P = (8/11) × 1320 = Rs. 960 Interest earned from scheme P = 960 × 5% × 2 = Rs. 96
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