Question
'Meeru' deposited Rs. 9,600 in a SIP at simple interest
of 15% p.a. If she earned Rs. 7,200 as interest, then find the duration (in years) for which the money was invested by her.Solution
ATQ, Let the duration for which the money was invested be ‘y’ years. Or, 7200 = {(9600 × 15 × y)/100} So, y = (7200/1440) = 5 Therefore, the money was invested for 5 years.
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