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
E None of these

Correct Answer: Rs. 3972

$$\eqalign{ & {\text{Let}}\,{\text{P = Rs}}{\text{.}}\,{\text{100}}\,{\text{Then}},\, \cr & \,\,\,\,\,{\text{S}}{\text{.I}}{\text{. = }}\,{\text{Rs}}{\text{.}}\,{\text{60}}\,{\text{and}} \cr & \,\,\,\,\,\,\,\,{\text{T = 6}}\,{\text{years}} \cr & \therefore R = {\frac{{100 \times 60}}{{100 \times 6}}} = 10\% \,p.a. \cr & {\text{Now}},\,P = Rs.\,12000 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,T = 3\,{\text{year}}\,{\text{and}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,R = \,10\% \,p.a. \cr & \therefore {\text{C}}{\text{.I}}{\text{.}} = Rs.\,\left \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,\left( {12000 \times \frac{{331}}{{1000}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,3972 \cr} $$
Bissoy MCQ
#Arithmetic Ability #Compound Interest

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