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      Question

      Rs. 5,500 is invested in scheme β€˜A’ offering simple

      interest of 15% p.a. and Rs. 8,000 in scheme β€˜B’ offering simple interest of 5% p.a. What is the difference in interests earned from the two schemes after 3 years?
      A Rs. 1275 Correct Answer Incorrect Answer
      B Rs. 1225 Correct Answer Incorrect Answer
      C Rs. 1235 Correct Answer Incorrect Answer
      D Rs. 1245 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Interest earned from scheme β€˜A’ = (5500 Γ— 3 Γ— 15) Γ· 100 = Rs. 2475 Interest earned from scheme β€˜B’ = (8000 Γ— 3 Γ— 5) Γ· 100 = Rs. 1200 So, difference in interest earned = 2475 – 1200 = Rs. 1275

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