An amount increased by 36% in 3 year invested on simple interest, what will be the compound interest earned on 10000 in 2 years at same rate?a)2300b)2500c)2544d)2100Correct answer is option 'C'. Can you explain this answer?

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An amount increased by 36% in 3 year invested on simple interest, what will be the compound interest earned on 10000 in 2 years at same rate?

a)
2300
b)
2500
c)
2544
d)
2100

Correct answer is option 'C'. Can you explain this answer?

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Verified Answer

An amount increased by 36% in 3 year invested on simple interest, what...

Let Principal be Rs x. So after 3 years amount would be = 136x/100
∴ SI = Amount – Principal = 136x/100 – x = 36x/100
⇒ SI = (P × r × t) /100
⇒ 36x/100 = (x × r × 3) /100
⇒ r = 12%

⇒ A = 12544
⇒ Compound Interest = 12, 544 – 10, 000 = 2544

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An amount increased by 36% in 3 year invested on simple interest, what will be the compound interest earned on 10000 in 2 years at same rate?a)2300b)2500c)2544d)2100Correct answer is option 'C'. Can you explain this answer?

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