Question
Ajay invested Rs.24,000 in Fund 'P' for a duration of 4
years, where it earns simple interest at a rate of 22.5% per annum. The amount obtained from Fund 'P' is subsequently invested in Fund 'Q,' which provides simple interest at a rate of 20% per annum for 2 years. Determine the interest received from Fund 'Q.'Solution
ATQ, Interest received from Fund 'P' = 24000 × (22.5/100) × 4 = Rs. 21,600 So, the sum invested in Fund 'Q' = Amount received from Fund 'P' = 24000 + 21600 = Rs. 45,600 Interest received from Fund 'Q' = 45600 × (20/100) × 2 = Rs.18,240
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