Question
Rs. 6,600 is invested in scheme โAโ offering simple
interest of 13% p.a. and Rs. 2500 in scheme โBโ offering simple interest of 4% p.a. What is the difference in interests earned from the two schemes after 3 years?Solution
Interest earned from scheme โAโ = (6600 ร 3 ร 13) รท 100 = Rs. 2574 Interest earned from scheme โBโ = (2500 ร 3 ร 4) รท 100 = Rs. 300 So, difference in interest earned = 2574 โ 300 = Rs. 2274
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