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      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.
      A 6 yrs Correct Answer Incorrect Answer
      B 5 yrs Correct Answer Incorrect Answer
      C 8 yrs Correct Answer Incorrect Answer
      D 10 yrs Correct Answer Incorrect Answer

      Solution

      ATQ, Let the duration for which the money was invested be β€˜y’ years. Or, 7200 = {(9600 Γ— 15 Γ— y)/100} So, y = (7200/1440) = 5 Therefore, the money was invested for 5 years.

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