Mathematics · Simple Interest
A person opened a term deposit in the name of his two daughters at a 15% annual simple interest rate in such a way that when they attain 18 years of age, they will get ₹ 38,000 each. Since his elder daughter was 12 years old, he invested ₹ 4,800 more for her than for his younger daughter. What was the amount he invested for his younger daughter (in ₹)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 111,625
- 220,000
- 315,200✓
- 418,200
Correct answer
15,200
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