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    Question

    Rs. 8,000 is invested in scheme ‘A’ offering simple

    interest of 18% p.a. and Rs. 6,000 in scheme ‘B’ offering simple interest of 7% p.a. What is the difference in interests earned from the two schemes after 3 years?
    A Rs. 3060 Correct Answer Incorrect Answer
    B Rs. 3000 Correct Answer Incorrect Answer
    C Rs. 3010 Correct Answer Incorrect Answer
    D Rs. 3070 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Interest earned from scheme ‘A’ = (8000 × 3 × 18) ÷ 100 = Rs. 4320 Interest earned from scheme ‘B’ = (6000 × 3 × 7) ÷ 100 = Rs. 1260 So, difference in interest earned = 4320 – 1260 = Rs. 3060

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