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What will be the compound interest of Rs. 10000 after 3 years at the same rate (compounded annually)?

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There is 60% increase in an amount in 5 years at simple interest.
What will be the compound interest of Rs. 10000 after 3 years at the same rate (compounded annually)?

posted Dec 10, 2018 by Nimish

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1 Answer

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Simple rate of interest = 60/5 = 12%
CI = [10000(1 + 0.12)^3] - 10000 = 4049.28

answer Dec 10, 2018 by Tejas Naik
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