The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be the compound interest accured on the same amount at teh same rate in the same period? (Round off your answer to two decimal places)
Options:
A . Rs.20043.94
B . Rs.18654.81
C . Rs.20264.46
D . Rs.19612.41
E . None of these
Answer: Option A
Let the rate of interest be R% p.a. (49500)(3)(R)/100 = 17820 495R = 5940 R = 12 CI on Rs.49500 at 12% p.a. for three years = 49500{[1 + 12/100]3 - 1} = 69543.936 - 49500 = Rs.20043.94 when rounded off to two decimal places.
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