Question

There is 60% increase in an amount in 6 years at simple interest.what will be the compound interest of rs.12000 after 3 years

Answer 1

compound interest=p×r×t÷100 where the amount of 1st year will become the principal of the next year
1st year
compound interest=12000×1×60÷100=7200
a=12000+7200=19200
2nd year
ci=19200×1×60÷100=11520
a=19200+11520=30720
3rd year
ci=30720×1×60÷100=18432
a=30720+18432=rs.49152