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    Question

    Rs. 6,500 is invested in scheme β€˜A’ offering simple

    interest of 14% p.a. and Rs. 9220 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. 1347 Correct Answer Incorrect Answer
    B Rs. 1247 Correct Answer Incorrect Answer
    C Rs. 1147 Correct Answer Incorrect Answer
    D Rs. 1357 Correct Answer Incorrect Answer

    Solution

    Interest earned from scheme β€˜A’ = (6500 Γ— 3 Γ— 14) Γ· 100 = Rs. 2730 Interest earned from scheme β€˜B’ = (9220 Γ— 3 Γ— 5) Γ· 100 = Rs. 1383 So, difference in interest earned = 2730 – 1383 = Rs. 1347

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