Question
'X' deposited Rs.24000 at 20% per annum compound
interest in SIP 'P' while Rs.18600 at 24% per annum simple interest in SIP 'Q'. What would be his total interest after 3 yrs?Solution
ATQ, we can say that Interest earned from SIP 'P' = 24000 × {(1.2)3 – 1} = Rs. 17472 Interest earned from SIP 'Q' = 18600 × 0.24 × 3 = Rs. 13392 Required interest earned = 17472 + 13392 = Rs.30864
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