Question
A sum of Rs. 15,000 is invested in SIP 'J' which offers
6% p.a. simple interest for 8 years. The interest received from SIP 'J' is invested in SIP 'K' which offers 22% p.a. simple interest for 2 years. Find the interest received from SIP 'K'.Solution
ATQ, Interest received from SIP 'J' = 15,000 × (6/100) × 8 = Rs. 7,200 Interest received from SIP 'K' = 7200 ×(22/100) × 2 = Rs. 3,168
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