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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?
- a)Rs. 2255
- b)Rs. 2792
- c)Rs. 3580
- d)Rs. 3972
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
There is 50% increase in an amount in 5 years at simple interest. What...
In S.I,
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I, P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I, P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
Most Upvoted Answer
There is 50% increase in an amount in 5 years at simple interest. What...
Given:
Principal amount (P) = Rs. 12,000
Time (t) = 3 years
We need to find the compound interest.
To solve this problem, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = Final amount
P = Principal amount
r = Rate of interest
n = Number of times interest is compounded per year
t = Time in years
We are given that there is a 50% increase in the amount in 5 years at simple interest. This means that the rate of interest is 10% per year.
Now, let's calculate the compound interest using the formula mentioned above:
A = 12000(1 + 0.10/1)^(1*3)
A = 12000(1.10)^3
A = 12000(1.331)
A ≈ 15972
The final amount after 3 years will be approximately Rs. 15,972.
Now, let's calculate the compound interest:
Compound Interest = Final Amount - Principal Amount
Compound Interest = 15972 - 12000
Compound Interest ≈ 3972
Therefore, the compound interest of Rs. 12,000 after 3 years at the same rate is approximately Rs. 3972.
Hence, the correct answer is option D) Rs. 3972.
Principal amount (P) = Rs. 12,000
Time (t) = 3 years
We need to find the compound interest.
To solve this problem, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = Final amount
P = Principal amount
r = Rate of interest
n = Number of times interest is compounded per year
t = Time in years
We are given that there is a 50% increase in the amount in 5 years at simple interest. This means that the rate of interest is 10% per year.
Now, let's calculate the compound interest using the formula mentioned above:
A = 12000(1 + 0.10/1)^(1*3)
A = 12000(1.10)^3
A = 12000(1.331)
A ≈ 15972
The final amount after 3 years will be approximately Rs. 15,972.
Now, let's calculate the compound interest:
Compound Interest = Final Amount - Principal Amount
Compound Interest = 15972 - 12000
Compound Interest ≈ 3972
Therefore, the compound interest of Rs. 12,000 after 3 years at the same rate is approximately Rs. 3972.
Hence, the correct answer is option D) Rs. 3972.
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Community Answer
There is 50% increase in an amount in 5 years at simple interest. What...
In S.I,
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I, P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I, P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
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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?a)Rs. 2255b)Rs. 2792c)Rs. 3580d)Rs. 3972e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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