Question
Akshay invested Rs. 1050 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 8% per annum and 10% per annum, respectively. Find the interest obtained after 2 years from scheme P.Solution
Amount invested in scheme P = (5/7) × 1050 = Rs. 750 Interest earned from scheme P = 750 × 8% × 2 = Rs. 120
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