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      Question

      A woman invested Rs. 'x + 500' at 8% per annum simple

      interest and received Rs.360 as interest after 3 years. Calculate the interest she would earn if she invested Rs.3x at 9% per annum for 3 years at compound interest.
      A Rs.985.069 Correct Answer Incorrect Answer
      B Rs.690.088 Correct Answer Incorrect Answer
      C Rs.664.087 Correct Answer Incorrect Answer
      D Rs.885.087 Correct Answer Incorrect Answer
      E none of these Correct Answer Incorrect Answer

      Solution

      ATQ, The simple interest equation is: For compound interest on Rs. 3x (which is Rs. 3000) at 9% for 3 years: Interest earned = 3885.087 - 3000 = Rs.885.087

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