Practicing Success
If in 6 years by simple interest the principal increases by 30%. What will be the approximate compound interest earned ( in Rs. lakh) on Rs. 15 lakh in 3 year at the same rate? |
2.36 2.87 2.77 2.48 |
2.36 |
Rate = \(\frac{30%}{6}\) = 5% Total CI = 3 (75000) + 3 (3750) + 187.5 = 236437.5 = 2.36 lakhs |