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
`:.` R =` (100 xx 60)/(100 xx 6) = 10%p.a.`
Now, P = Rs. 12000, T = 3 years and R = 10% p.a.
`:.` C.I. = Rs. `[12000 xx {(1 + 10/100)^3 - 1}]`
=Rs. `(12000 xx 331/1000)` = Rs. 3972.
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