Question
Rs. 8,600 is invested in scheme ‘A’ offering simple
interest of 25% p.a. and Rs. 6900 in scheme ‘B’ offering simple interest of 12% p.a. What is the difference in interests earned from the two schemes after 3 years?Solution
Interest earned from scheme ‘A’ = (8600 × 3 × 25) ÷ 100 = Rs. 6450 Interest earned from scheme ‘B’ = (6900 × 3 × 12) ÷ 100 = Rs. 2484 So, difference in interest earned = 6450 – 2484 = Rs. 3966
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