Q. 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 same yearly interest rate (compounding of interest is yearly), then what will be the amount (in Rs) after 3 years?

A) 8260

B) 8640

C) 9220

D) 8880

โœ” Correct Answer: 8640

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