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There is 40% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 25000 after 3 years at the same rate?
- ARs. 6492.8
- BRs. 12985.6
- CRs. 16232
- DRs. 9739.2
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0
CCommunity
There is 40% increase in an amount in 5 years at simple interest.
So, the simple interest = 40%/5 = 8%.
Amount = Rs. 25000
Time = 3 years.
Rate of interest = 8%
We know the formula for compound interest -
$(\Rightarrow {\rm{\;CI\;}} = {\rm{\;}}\left[ {{\rm{P}}\left\{ {{{\left( {1{\rm{\;}} + {\rm{\;}}\frac{{\rm{r}}}{{100}}} \right)}^t} - 1} \right\}} \right])$
Where,
CI = Compound interest
P = Principal
R = Rate of interest
T = Time period
Compound interest = Rs. 25000 × [1 + (8/100)]3 – 25000 = Rs. 31492.8 – 25000 = Rs. 6492.8
∴ The required compound interest = Rs. 6492.8.
So, the simple interest = 40%/5 = 8%.
Amount = Rs. 25000
Time = 3 years.
Rate of interest = 8%
We know the formula for compound interest -
$(\Rightarrow {\rm{\;CI\;}} = {\rm{\;}}\left[ {{\rm{P}}\left\{ {{{\left( {1{\rm{\;}} + {\rm{\;}}\frac{{\rm{r}}}{{100}}} \right)}^t} - 1} \right\}} \right])$
Where,
CI = Compound interest
P = Principal
R = Rate of interest
T = Time period
Compound interest = Rs. 25000 × [1 + (8/100)]3 – 25000 = Rs. 31492.8 – 25000 = Rs. 6492.8
∴ The required compound interest = Rs. 6492.8.
0
CCommunity
There is 40% increase in an amount in 5 years at simple interest.
So, the simple interest = 40%/5 = 8%.
Amount = Rs. 25000
Time = 3 years.
Rate of interest = 8%
We know the formula for compound interest -
$(\Rightarrow {\rm{\;CI\;}} = {\rm{\;}}\left[ {{\rm{P}}\left\{ {{{\left( {1{\rm{\;}} + {\rm{\;}}\frac{{\rm{r}}}{{100}}} \right)}^t} - 1} \right\}} \right])$
Where,
CI = Compound interest
P = Principal
R = Rate of interest
T = Time period
Compound interest = Rs. 25000 × [1 + (8/100)]3 – 25000 = Rs. 31492.8 – 25000 = Rs. 6492.8
∴ The required compound interest = Rs. 6492.8.
So, the simple interest = 40%/5 = 8%.
Amount = Rs. 25000
Time = 3 years.
Rate of interest = 8%
We know the formula for compound interest -
$(\Rightarrow {\rm{\;CI\;}} = {\rm{\;}}\left[ {{\rm{P}}\left\{ {{{\left( {1{\rm{\;}} + {\rm{\;}}\frac{{\rm{r}}}{{100}}} \right)}^t} - 1} \right\}} \right])$
Where,
CI = Compound interest
P = Principal
R = Rate of interest
T = Time period
Compound interest = Rs. 25000 × [1 + (8/100)]3 – 25000 = Rs. 31492.8 – 25000 = Rs. 6492.8
∴ The required compound interest = Rs. 6492.8.