New Enroll in RBI Grade B New Batch - Starts on May 21

    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 ‘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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