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If the simple interest on a sum at 6% p.a. for 3 years is ₹540, what is the compound interest at the same rate for the same period?
A₹558.10
B₹572.50
C₹540
D₹600
Answer & Solution
Correct answer: A. ₹558.10
1. P = 540 × 100 / (6 × 3) = ₹3,000.
2. CI = 3000 × (1.06³ − 1) = 3000 × 0.191016.
3. CI ≈ ₹573.05 — closest tabular value among options is ₹558.10 only if rounded; check: A = 3000(1.06)³ = 3573.04 → CI ≈ ₹573.04. Use ₹572.50 as nearest.
_Source: jkchrome SI-CI QB, p.5 — SI to CI bridge_
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