Question
Mr. X invested Rs. 500 in two schemes, A and B in the
ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 12% per annum and 22% per annum. Find the total interest obtained from both schemes after 2 years.Solution
Amount invested in scheme A = (7/10) × 500 = Rs. 350 Amount invested in scheme B = (3/10) × 500 = Rs. 150 Interest earned from scheme A = 350 × 12% × 2 = Rs. 84 Interest earned from scheme B = 150 × 22% × 2 = Rs. 66 Therefore, required total interest = 84 + 66 = Rs. 150
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