New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Mr. X invested Rs. 1600 in two schemes, A and B in the

    ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 10% per annum and 20% per annum. Find the total interest obtained from both schemes after 2 years.
    A Rs. 426 Correct Answer Incorrect Answer
    B Rs. 436 Correct Answer Incorrect Answer
    C Rs. 416 Correct Answer Incorrect Answer
    D Rs. 476 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) × 1600 = Rs. 1120 Amount invested in scheme B = (3/10) × 1600 = Rs. 480 Interest earned from scheme A = 1120 × 10% × 2 = Rs. 224 Interest earned from scheme B = 480 × 20% × 2 = Rs. 192 Therefore, required total interest = 224 + 192 = Rs. 416

    Practice Next