Question

Amit invested Rs. 96,000 in two SIPs labeled 'P' and 'Q.' SIP 'P' offers an annual interest rate of (p - 3)%, and SIP 'Q' offers (p + 3)% interest, both at a simple interest rate. If the total interest earned from both SIPs after 2 years is Rs. 57,600, determine the value of 'p'.

A 25
B 15
C 18
D 20
E none of these
Practice Next

More Simple and compound interest Questions

Hey! Ask a query