Aptitude - Compound Interest - Discussion

Discussion Forum : Compound Interest - General Questions (Q.No. 3)

Compound Interest

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?

Rs. 2160

Rs. 3120

Rs. 3972

Rs. 6240

None of these

Answer: Option

Explanation:

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.

Discussion:

94 comments Page 10 of 10.

ANGITA said: 1 decade ago

How SI was 60?

Sudarsan said: 8 years ago

Thanks @Neha.

Bhoomika said: 1 decade ago

What is -1 ?

Riya said: 8 years ago

helpful

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