swati tack a Loan of rd 16000 against in insurance policy of at the rate of 25% per annum calculate the total compound interest payable by away I after 3 years
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Answer:
Step-by-step explanation:
Compound interest = A-P
Amount = P(1+R/100)³
= 16000(1+25/100)³
= 16000(5/4)³
= 16000×5×5×5/4×4×4
= 250×125 = 31250
Compound interest = 31250-16000
= 15250
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