There is a 60 % increase in an amount in 6 ye | vedclass

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(C) Let the principal $P = 100$. The amount increases by $60 \%$,so the simple interest $I = 60$.Using the simple interest formula $I = \frac{P 	imes

Vedclass · Accepted Answer

$3972$

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(C) Let the principal $P = 100$. The amount increases by $60 \%$,so the simple interest $I = 60$.Using the simple interest formula $I = \frac{P 	imes R 	imes T}{100}$,we have $60 = \frac{100 	imes R 	imes 6}{100}$,which gives $R = 10 \%$.Now,for compound interest on $P = 12,000$ at $R = 10 \%$ for $T = 3$ years:The amount $A = P(1 + \frac{R}{100})^T = 12,000(1 + \frac{10}{100})^3 = 12,000(1.1)^3$.$A = 12,000 	imes 1.331 = 15,972$.The compound interest $CI = A - P = 15,972 - 12,000 = 3,972$.

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

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