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      Question

      Rs. 6,300 is invested in scheme β€˜A’ offering simple

      interest of 12% p.a. and Rs. 3500 in scheme β€˜B’ offering simple interest of 8% p.a. What is the difference in interests earned from the two schemes after 3 years?
      A Rs. 1408 Correct Answer Incorrect Answer
      B Rs. 1425 Correct Answer Incorrect Answer
      C Rs. 1228 Correct Answer Incorrect Answer
      D Rs. 1428 Correct Answer Incorrect Answer

      Solution

      Interest earned from scheme β€˜A’ = (6300 Γ— 3 Γ— 12) Γ· 100 = Rs. 2268 Interest earned from scheme β€˜B’ = (3500 Γ— 3 Γ— 8) Γ· 100 = Rs. 840 So, difference in interest earned = 2268 – 840 = Rs. 1428

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