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    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.
    A Rs. 100 Correct Answer Incorrect Answer
    B Rs. 120 Correct Answer Incorrect Answer
    C Rs. 130 Correct Answer Incorrect Answer
    D Rs. 150 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) Ă— 500 = Rs. 350 Amount invested in scheme B = (3/10) Ă— 500 = Rs. 150 Interest earned from scheme A = 350 Ă— 12% Ă— 2 = Rs. 84 Interest earned from scheme B = 150 Ă— 22% Ă— 2 = Rs. 66 Therefore, required total interest = 84 + 66 = Rs. 150

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