If compound interest received on a certain amount in the 2nd year is₹ 250. What will be the compound interest (in *) for the 3rd year on the same amount at 12% rate of interest?

Options

A. 250
B. 300
C. 280
D. 2701

Answer

To solve the problem step by step, we will follow the information given in the question and the explanation provided in the video transcript.

### Step-by-Step Solution:

**Step 1: Understand the given information.**
- We know that the compound interest (CI) received in the second year is ₹250.

**Step 2: Calculate the compound interest for the third year.**
- The compound interest for the third year can be calculated using the formula:
\[ \text{CI for 3rd year} = \text{CI for 2nd year} + \text{12% of CI for 2nd year} \]

**Step 3: Substitute the values into the formula.**
- Substituting the known value:
\[ \text{CI for 3rd year} = 250 + (0.12 \times 250) \]

**Step 4: Calculate 12% of ₹250.**
- Calculate \(0.12 \times 250\):
\[ 0.12 \times 250 = 30 \]

**Step 5: Add the values to find the CI for the third year.**
- Now, substitute back into the equation:
\[ \text{CI for 3rd year} = 250 + 30 = 280 \]

**Step 6: Conclusion.**
- Therefore, the compound interest for the third year is ₹280.

### Final Answer:
The compound interest for the third year is ₹280.

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