Question
Rs. 6,600 is invested in scheme ‘A’ offering simple
interest of 20% p.a. and Rs. 4500 in scheme ‘B’ offering simple interest of 10% p.a. What is the difference in interests earned from the two schemes after 3 years?Solution
Interest earned from scheme ‘A’ = (6600 × 3 × 20) ÷ 100 = Rs. 3960 Interest earned from scheme ‘B’ = (4500 × 3 × 10) ÷ 100 = Rs. 1350 So, difference in interest earned = 3960 – 1350 = Rs. 2610
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