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

medium

There is $60 \%$ increase in an amount in $6$ $years$ at simple interest. What will be the compound interest (In ₹) of ₹ $12000$ after $3$ years at the same rate?

$2160$

$3120$

$3972$

$6240$

Solution

S.I. for 6 years $=\frac{P \times 6 \times R}{100}=0.6 P$

$R=\frac{0.6 \times 100}{6}=10 \%$

C.I. for 3 years for $₹ 12000 @ 10 \%$ p.a.

$\begin{array}{l}=12000\left[\left(1+\frac{10}{100}\right)^{3}-1\right]=12000\left[\left(\frac{11}{10}\right)^{3}-1\right] \\\left.=12000 \times \frac{(11)^{3}-(10)^{3}}{10^{3}}=12 \times(11-10)\left[(11)^{2}+(10)^{2}+110\right)\right] \\=12 \times 1 \times 331=₹ 3972\end{array}$

Standard 13

Quantitative Aptitude

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medium

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easy

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hard

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medium

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medium

There is $60 \%$ increase in an amount in $6$ $years$ at simple interest. What will be the compound interest (In ₹) of ₹ $12000$ after $3$ years at the same rate?

Solution

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The $S.I.$ is $Rs. 7200$ on $12$ $p.c.p.a.$ for $6$ years on a sum. What is $C.I.$ (In $Rs.$) on $5$ $p.c.p.a$ for $2$ years?

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