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

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