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?
Options:
A . Rs. 2160
B . Rs. 3120
C . Rs. 3972
D . Rs. 6240
E . None of these
Answer: Option C - 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.
Submit Comment/FeedBack