Mathematics · Interest
A total investment of ₹30,000 is split into Scheme A (simple interest at 12% p.a.) and Scheme B (compound interest at 10% p.a., compounded annually). After 2 years, the interest accrued from Scheme B exceeded the interest from Scheme A by ₹720. Which of the following statements is/are true? I. The amount invested in Scheme A is ₹15,400. II. The interest from Scheme B after 2 years is ₹3,696. III. If the entire ₹30,000 were invested in Scheme A at 12% simple interest for 2 years, the interest would be ₹7,200.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only III
- 2Only II
- 3Only I
- 4Only II and III✓
Correct answer
Only II and III
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