Rate of Interest per cent per annum Offered by Five Companies on Deposits Under Different Schemes
Company | A | B | C | D | E |
Scheme | | | | | |
I | 8.5 | 9.0 | 8.0 | 8.5 | 9.0 |
II | 9.5 | 8.5 | 9.0 | 9.0 | 8.5 |
III | 8.0 | 8.0 | 7.5 | 8.5 | 8.5 |
IV | 10.0 | 9.5 | 10.5 | 9.5 | 10.0 |
Mr. Lal investesd Rs.30,000 in Company A under Scheme II which offers simple interest and Rs.48,000 in Company D under Scheme II which offers compound interest. What will be the total amount of interest earned by Mr. Lal in two years ?