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?
Answer: Option C
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Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
So, R = \(\left(\frac{100\times60}{100\times6}\right)\) =10% p.a.
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
So, C.I. = Rs. \(\left[12000\times\left\{\left(1+\frac{10}{100}\right)^{3}-1\right\}\right]\)
= Rs. \(\left(12000\times\frac{331}{1000}\right)\)
= 3972
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