Question

Ashish invests an amount of Rs. 'A' into two different SIPs, named 'P' and 'Q', for durations of 3 years and 2 years respectively. The first SIP 'P' yields a simple interest at an annual rate of 11%, while the second SIP 'Q' provides compound interest at an annual rate of 15%, compounded yearly. Given that the net difference in the amounts received from both SIPs is Rs. 60, determine the value of 'A'.

A 2000
B 6000
C 8000
D 1650
E none of these
Practice Next

More Simple and compound interest Questions

Hey! Ask a query