If the simple interest on a sum of money at 5 per annum for 3 years is Rs 1200 find the compound int...........

Quantitative Aptitude ( CCS) Compound Interest

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

1261

1271

1281

1291

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Explanation:

Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.
C.I. = Rs. (9261 - 8000) = Rs. 1261.

Hence, option 1 is the correct answer.