A sum of Rs. 5000 becomes Rs. 8000 in 3 years when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with the same yearly interest rate (compounding of interest is yearly), what will be the amount (in Rs.) after 3 years?

A sum of Rs. 5000 becomes Rs. 8000 in 3 years when invested in a schem

1.	A sum of Rs. 5000 becomes Rs. 8000 in 3 years when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with the same yearly interest rate (compounding of interest is yearly), what will be the amount (in Rs.) after 3 years?
A.	8640
B.	8260
C.	8880
D.	9220
Answer» B. 8260

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A sum of Rs. 5000 becomes Rs. 8000 in 3 years when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with the same yearly interest rate (compounding of interest is yearly), what will be the amount (in Rs.) after 3 years?

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