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?
Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
R = 100 x 60 = 10% p.a. 100 x 6
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
C.I. = Rs. 12000 x 1 + 10 3 - 1 100 = Rs. 12000 x 331 1000 = 3972.
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