Question

there is 60%percent percent increase in a amount in 6 year at simple interest what will be the compound interest of great 12,000 after 3 year at the same rate

Answer 1

60,000 is answer in 3 years

Answer 2

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 ? 

Solution:-

Let the principal in simple interest be ₹100. 

Since there is 60% increase, simple interest = 60 

We already know the formula for S.I.

That is, 

I  =  P×r×t/100 

Here, I=60,P =100,t=6

60  =  (100 ×r× 6) / 100

60  =  6r

Divide each side by 6.

10%  =  r

Because the rate of interest is same for both S.I and C.I, we can use the rate of interest 10% in C.I.

To know compound interest for 3 years,

Substitute P = 12000, r = 0.1, n = 1 and t = 3 in the formula of C.I.

A  =  12000(1 + 0.1)3 

A  =  12000(1.331) 

A  =  15972 

C.I  =  A - P

C.I  =  15972 - 12000

C.I  =  3972 

So, the compound interest after 3 years at the same rate of interest is ₹ 3972.