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    Question

    Mr. X invested Rs. 900 in two schemes, A and B in the

    ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 14% per annum and 18% per annum. Find the total interest obtained from both schemes after 2 years.
    A Rs. 253.60 Correct Answer Incorrect Answer
    B Rs. 233.60 Correct Answer Incorrect Answer
    C Rs. 273.60 Correct Answer Incorrect Answer
    D Rs. 203.60 Correct Answer Incorrect Answer

    Solution

    Amount invested in scheme A = (7/10) × 900 = Rs. 630 Amount invested in scheme B = (3/10) × 900 = Rs. 270 Interest earned from scheme A = 630 × 14% × 2 = Rs. 176.4 Interest earned from scheme B = 270 × 18% × 2 = Rs. 97.2 Therefore, required total interest = 176.4 + 97.2 = Rs. 273.60

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