Question

Mr. Lal invested Rs. 30000 in company A under scheme II which offers simple interest and Rs. 48000 in company D under scheme II which offers compound interest. What will be the total amount of interest earned by Mr. Lal in 2 years?

• A. Rs. 14728.80
• B. Rs. 17428.50
• C. Rs. 14827.70
• D. Rs. 16728.20
• E. None of these

Answer 1

The correct option is A Rs. 14728.80

Interest earned under scheme II of company A
=$Rs.\left(\frac{30000\times 9.5\times 2}{100}\right)=Rs.5700$
C.l. earned under scheme II of company D
$=Rs.48000[{(1+\frac{9}{100})}^2-1]=Rs.(48000\times 0.1881)=Rs.9028.8$
$\therefore$ Total interest $=Rs.(5700+9028.8)=Rs.14728.8$