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      Question

      Mr. X invested Rs. 600 in two schemes, A and B in the

      ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 16% per annum and 20% per annum. Find the total interest obtained from both schemes after 2 years.
      A Rs. 216.4 Correct Answer Incorrect Answer
      B Rs. 200.4 Correct Answer Incorrect Answer
      C Rs. 206.4 Correct Answer Incorrect Answer
      D Rs. 209.4 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Amount invested in scheme A = (7/10) × 600 = Rs. 420 Amount invested in scheme B = (3/10) × 600 = Rs. 180 Interest earned from scheme A = 420 × 16% × 2 = Rs. 134.4 Interest earned from scheme B = 180 × 20% × 2 = Rs. 72 Therefore, required total interest = 134.4 + 72 = Rs. 206.4

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