Question
Rs. 6,600 is invested in scheme βAβ offering simple
interest of 20% p.a. and Rs. 4500 in scheme βBβ 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 βAβ = (6600 Γ 3 Γ 20) Γ· 100 = Rs. 3960 Interest earned from scheme βBβ = (4500 Γ 3 Γ 10) Γ· 100 = Rs. 1350 So, difference in interest earned = 3960 β 1350 = Rs. 2610
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