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      Question

      Rs. 6250 is placed in plan X earning 28% simple interest

      per annum for 3 years. Half of the maturity amount from plan X is then reinvested in plan Y at 20% simple interest for 5 years. What is the interest gained from plan Y?
      A Rs.5,750 Correct Answer Incorrect Answer
      B Rs.6,000 Correct Answer Incorrect Answer
      C Rs.4,500 Correct Answer Incorrect Answer
      D Rs.6,620 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ,

      Amount received from plan X = {(6250 ร— 28 ร— 3)/100} + 6250 = Rs. 11,500 Interest received from plan Y = (0.5 ร— 11,500 ร— 20 ร— 5)/100 = Rs. 5,750

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