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.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
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