The simple interest on a sum of money at 5% per annum for 3 years is ₹1,200. If interest is compounded annually, find the compound interest on the same sum at the same rate for the same period.
Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM
Options
- (A) ₹1,612
- (B) ₹1,216
- (C) ₹1,261
- (D) ₹1,621
Verified Answer
Option (C): ₹1,261
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