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?

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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?

(A.)Rs. 2160 (B.)Rs. 3120 (C.)Rs. 3972 (D.)Rs. 6240


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Salim Ahmed Kawsar

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Solution: Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.

 R=100*60/100*6 =10% p.a

 Now, P = Rs. 12000. T = 3 years and R = 10% p.a.

 C.I=Rs.[12000*[1+10/100]3−1]
       =Rs.3972

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