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Subject :NCO    Class : Class 8

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of 12,000 after 3 years at the same rate?
(a) 2160
(b) 3120
(c) 6240
(d) None of these


how to solve this

Ans 1:

Class : Class 8
therefore, SI = 60/100 P SI=0.6 P R=100*SI/P*T =100*0.6P/P*6 =60P/6P =10 CI=P(1+R/100)^T-P =12000(1+10/100)^3-12000 =12000(1+1/10)^3-12000 =12000(11/10)^3-12000 =12000*1331/1000-12000 =12*1331-12000 =15972-12000 =3972 option d is correct

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