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 at the same rate?

Answer 1

LET P= Rs. 100
So, SI= RS. 60
T= 6 Yrs.
So R=(100*60)/(100*6)
R= 10% pa

Now,
P=12000
T=3 yrs
R= 10% p.a.
CI=[12000*{(1+10/100)³-1}]
CI= (12000*331/1000)
CI= 3972

Answer 2

Step-by-step explanation:

C.I. after 3 years = Rs. 3,310