Related Question 3
There is a 60% increase in a sum in 6 years at simple interest. What will be the compound interest on Rs. 12000 for 3 years at the same rate?
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A.
Rs. 2160
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B.
Rs. 3120
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C.
Rs. 3972
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D.
Rs. 6240
Correct Answer: C
Explanation:
Rate = 10%, CI = 12000[(1.1)³ − 1] = 3972.