Question
Rs. 6,600 is invested in scheme βAβ offering simple
interest of 13% p.a. and Rs. 2500 in scheme βBβ 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 βAβ = (6600 Γ 3 Γ 13) Γ· 100 = Rs. 2574 Interest earned from scheme βBβ = (2500 Γ 3 Γ 4) Γ· 100 = Rs. 300 So, difference in interest earned = 2574 β 300 = Rs. 2274
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