Question
Anita invested Rs. 5400 in scheme 'P,' which offers a
15% per annum simple interest rate, and she invested Rs. 3800 in scheme 'Q,' offering a 25% per annum simple interest rate. After 2 years, calculate the difference between the interest earned by Anita from these two schemes.Solution
ATQ, Difference of the interest received by both schemes = (3800 × 0.25 × 2) – (5400 × 0.15 × 2) = Rs. 28
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