There is 60% increase in an amount is 6 years at simple interest. What

1.	There is 60% increase in an amount is 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?1. Rs. 35752. Rs. 39503. Rs. 39724. Rs. 3980
Answer» Correct Answer - Option 3 : Rs. 3972 Given Increase in salary after 6 years = 60% Formula Used A = P(1 + r/100)^t simple Interest = (principal × rate × time)/100 Calculation Let the salary at 1st year be 100x Increased in salary = 60% of 100x = 60x ⇒ 60x = (100x × 6 × R)/100 ⇒ R = 10% Compound Interest after 3 years = P(1 + r/100)^t - P ⇒ 12000(1 + 10/100)³ - 12000 ⇒ 12000 × (11/10)³ - 12000 ⇒ 15972 - 12000 = Rs. 3972 ∴ The required answer is Rs 3972

There is 60% increase in an amount is 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?1. Rs. 35752. Rs. 39503. Rs. 39724. Rs. 3980

Answer» Correct Answer - Option 3 : Rs. 3972

Given

Increase in salary after 6 years = 60%

Formula Used

A = P(1 + r/100)^t

simple Interest = (principal × rate × time)/100

Calculation

Let the salary at 1st year be 100x

Increased in salary = 60% of 100x = 60x

⇒ 60x = (100x × 6 × R)/100

⇒ R = 10%

Compound Interest after 3 years = P(1 + r/100)^t - P

⇒ 12000(1 + 10/100)³ - 12000

⇒ 12000 × (11/10)³ - 12000

⇒ 15972 - 12000 = Rs. 3972

∴ The required answer is Rs 3972

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There is 60% increase in an amount is 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?1. Rs. 35752. Rs. 39503. Rs. 39724. Rs. 3980

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