Question

There is 80% increase in an amount in 8 years at simple interest. what will be the compound interest of rs. 14,000 after 3 years at the same rate

Answer 1

Let P be Rs.100 

Simple Interest = Rs. 80 ( ∵ 80% increase due to the simple interest)

Rate of interest=(100×SI) / PT
                         =100×80100×8
                         =10% per annum

compound interest of Rs. 14,000 after 3 years at 10%

P = Rs.14000
T = 3 yrs
R = 10%

Amount after 3 years
 =P(1+R100)^t
 =14000(1+10100)^3
 =14000(110100)^3
 =14000(1110)^3
 =14×113
 =18634

Compound Interest = Rs.18634 - Rs.14000 = Rs.4634 [answer]

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Answer 2

4634 rs as compound interest