Question

An amount of Rs. 2400 is placed in SIP 'P' at a 25% per annum simple interest rate for 8 years, and Rs. 2500 is invested in SIP 'Q' with a 20% annual compound interest rate, compounded annually for 2 years. Determine the difference between the interest earnings from these two investments.

A Rs.3752
B Rs.1700
C Rs.3700
D Rs.3000
E none of these
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