There is 50% increase in an amount in 5 years at simple interest. What will be t

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Question
There is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?
Options
A. Rs. 5422
B. Rs. 5489
C. Rs. 3972
D. Rs. 6145

Correct Answer

Rs. 3972

Explanation

Let p = Rs. 100.

Then, S.I is Rs. 50 and time = 5 years.

$? R = \frac{100 � 50}{100 � 5}$ = 10% p.a.

Now, p = Rs. 12,000 , T = 3 years and R = 10% p.a.

C.I. = Rs. $12000 � \{{(1 + \frac{10}{100})}^{3} - 1\}$ = Rs. 3972

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