Question

what will be the compound interest on a sum of 50000 after 3 years at the rate of 12% p.a?

Answer 1

amt=p(1+R/10)³
=5000×{112/100 }³
=7024.64
c.I=amt-p
=7024.64-5000
=2024.64

Answer 2

50000×(112/100)3

=70246.40 -50000

=20246.40