There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest (in rupees) of Rs 30000 after 2 years at the same rate ?
Options:
A . 3075
B . 6150
C . 4612.5
D . 7687.5
Answer: Option A Answer: (a)According to the question,If principal= Rs.100 then interest = Rs.40.Case I.Rate = $\text"S.I. × 100"/ \text"Principal × Time"$= ${40 × 100}/{100 × 8}$ = 5% per annumCase II.A = P$(1 + R/100)^T$= 30000$(1 + 5/100)^2$= 30000$(1 + 1/20)^2$= 30000$({20 + 1}/20)^2$= 30000$ × 21/20 × 21/20$= Rs.33075C. I. = Rs.(33075 - 30000) = Rs.3075
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