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

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(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

$3972$

Vedclass · Answer

(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?

Similar Questions

Divide $Rs. 2602$ between $X$ and $Y$,so that the amount of $X$ after $7 \,yr$ is equal to the amount of $Y$ after $9 \,yr$,the interest being compounded at $4 \%$ per annum.

If in a certain number of years,₹ $3000$ amounts to ₹ $4320$ at compound interest,in half that time ₹ $3000$ will amount to (in ₹):

The compound interest (in ₹) on ₹ $2000$ at $5 \%$ per annum,compounded yearly,for $2$ years is

If the rate of interest is $4 \%$ per annum for the first year,$5 \%$ per annum for the second year,and $6 \%$ per annum for the third year,then the compound interest on $Rs. 10000$ for $3$ years will be (in $Rs.$):

If the difference between the compound interest and simple interest on a sum of money for $3$ years is ₹ $186$,find the sum of money (in ₹) if the rate of interest in both cases is $10 \%$.

Vedclass Test Series

Exam Paper Generator

Online Exam Module