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In 4 years at simple interest the principal increases by 32%. What will be the compound interest earned (in Rs.) on Rs. 24,000 in 3 years at the same rate?
- A5233
- B6332
- C5332
- D6233
Answer not set
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0
CCommunity
Let the rate be r% and principle be p
According to the problem statement, since principle increases by 32% means interest is 0.32p
⇒ 0.32p = (p × r × 4)/100
⇒ r = 8%
Now CI can be given as
⇒ CI = 24000{(1 + 8/100)3 – 1}
⇒ CI = 24000 × 0.2597
⇒ CI = 6233
∴ CI is Rs. 6233
According to the problem statement, since principle increases by 32% means interest is 0.32p
⇒ 0.32p = (p × r × 4)/100
⇒ r = 8%
Now CI can be given as
⇒ CI = 24000{(1 + 8/100)3 – 1}
⇒ CI = 24000 × 0.2597
⇒ CI = 6233
∴ CI is Rs. 6233
0
CCommunity
Let the rate be r% and principle be p
According to the problem statement, since principle increases by 32% means interest is 0.32p
⇒ 0.32p = (p × r × 4)/100
⇒ r = 8%
Now CI can be given as
⇒ CI = 24000{(1 + 8/100)3 – 1}
⇒ CI = 24000 × 0.2597
⇒ CI = 6233
∴ CI is Rs. 6233
According to the problem statement, since principle increases by 32% means interest is 0.32p
⇒ 0.32p = (p × r × 4)/100
⇒ r = 8%
Now CI can be given as
⇒ CI = 24000{(1 + 8/100)3 – 1}
⇒ CI = 24000 × 0.2597
⇒ CI = 6233
∴ CI is Rs. 6233