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There is a 60 increase in an amount in 5 years...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
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There is a 60% increase in an amount in 5 years at simple interest. What will be the compound interest on Rs. 6,250 for two years at the same rate of interest, when the interest is compounded yearly?

Answer & Solution
Correct Answer: Option A
Compound Interest mcq question image
$${\text{Rate }}\% = \frac{{60}}{5} = 12\% $$
Compound Interest mcq question image
$$159 \to 159 \times 10 = 1590$$
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