this problem does not mention explicitly to take which policy .. in that gate question @asu mention that was solved simultaneous way due to some info given in the question itself.
But here L1 and L2 cache access time is given , from that we can conclude that it is hierarchical policy to use as when both cache access time is given Cpu fetch from l2 and l2 fetch from l1 cache hence we need to consider delay in each case.