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

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