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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

Correct Answer: Rs.3972

Explanation:


 


Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.


 


R= 100 * 60 100 * 6  =10% p.a


 


Now, P = Rs. 12000. T = 3 years and R = 10% p.a.


 


C.I= R s . 12000 * 1 + 10 100 3 - 1
       =Rs.3972


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