By using the simplified effective-field theory based on Glauber-type stochastic dynamics, namely the dynamic simplified effective-field theory, the dynamic phase diagrams of a two-dimensional mixed spin-1 and spin-3/2 Blume-Capel model are studied in an oscillating external magnetic field. The dynamic equations are derived for two interpenetrating square lattices. The time variations of average magnetizations and the temperature dependence of the dynamic magnetizations are examined, and the dynamic phase diagrams are presented in the two different planes. The dynamic phase diagrams illustrate several ordered phases, the coexistence phase region and critical points as well as a re-entrant behavior depending on the interaction parameters. Finally, the discussion and comparison of the dynamic phase diagrams are given briefly.