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.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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