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

A Tk. 1260 
B Tk. 1261 
C Tk. 1264 
D Tk. 1265 

+ Answer
B 

+ Explanation
Sum=Tk. `((100 xx 1200)/(3 xx 5))` = Tk. 8000

Amount = Tk. `[8000 xx (1 + 5/100)^3]`

Tk. = `(8000 xx 21/20 xx 21/20 xx 21/20)`

`:.` C.I. = Tk. (9261 - 8000) = Tk. 1261

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Mohammad Towhidul Islam

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