There is 60 % increase in an amount in 6 years at simple interest. What will be compound interest (I

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6.Interest

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There is $60 \%$ increase in an amount in $6$ years at simple interest. What will be the compound interest (In $Rs.$) of $Rs. 12,000$ after $3$ years at the same rate?

A

$2160$

B

$3120$

C

$3972$

D

$6240$

Solution

Let $P=100, \quad A=100 \times \frac{60}{100}+100=R s .160$

$I=160-100=R$ s. $60, R=\frac{60 \times 100}{100 \times 6}=10 \%$

$C I=\frac{331}{1000} \times 12000=R s .3972$

Standard 13

Quantitative Aptitude

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