Question

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate

A) Rs.4972 B) Rs.3972 C) Rs.5972 D) Rs.2972

Answer 1

Answer:

38Q:

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate

A) Rs.4972

B) Rs.3972

C) Rs.5972

D) Rs.2972

Answer: B) Rs.3972

EXPLANATION

Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.

R=100*60100*6 =10% p.a

Now, P = Rs. 12000. T = 3 years and R = 10% p.a.

C.I=Rs.[12000*[1+10100]3−1]

=Rs.3972