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

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