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