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

Options

A. 250
B. 300
C. 280
D. 270

Answer

To solve the problem step by step, we will calculate the compound interest for the third year based on the information given about the second year.

### Step-by-Step Solution:

1. **Identify the Given Information**:
- Compound Interest (CI) for the 2nd year = ₹250
- Rate of interest = 12%

2. **Understand the Calculation for CI in the 3rd Year**:
- The compound interest for the 3rd year can be calculated using the formula:
\[ \text{CI for 3rd year} = \text{CI for 2nd year} + \text{Interest on CI for 2nd year} \]

3. **Calculate the Interest on CI for the 2nd Year**:
- Interest on CI for the 2nd year at 12%:
\[ \text{Interest} = 12\% \text{ of } ₹250 = \frac{12}{100} \times 250 = ₹30 \]

4. **Calculate the Total CI for the 3rd Year**:
- Now, substitute the values into the formula:
\[ \text{CI for 3rd year} = ₹250 + ₹30 = ₹280 \]

5. **Final Answer**:
- The compound interest for the 3rd year is ₹280.

### Summary of the Solution:
The compound interest for the 3rd year is ₹280.

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