New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Mr. X invested Rs. 1000 in two schemes, A and B in the

    ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 8% per annum and 14% per annum. Find the total interest obtained from both schemes after 2 years.
    A Rs. 126 Correct Answer Incorrect Answer
    B Rs. 176 Correct Answer Incorrect Answer
    C Rs. 196 Correct Answer Incorrect Answer
    D Rs. 146 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) × 1000 = Rs. 700 Amount invested in scheme B = (3/10) × 1000 = Rs. 300 Interest earned from scheme A = 700 × 8% × 2 = Rs. 112 Interest earned from scheme B = 300 × 14% × 2 = Rs. 84 Therefore, required total interest = 112 + 84 = Rs. 196

    Practice Next