Question

What will be the compound interest on a sum of rs 25000 after 3 years at rate of 12p.c.p.a?

Answer 1

the formula for amount after t years = P(1+R/100)^t

where P= principle, R= interest rate and t= time
according to the question,
we take P=25000, R=12%, and t= 3yrs

total amount after 3 yrs= 25000(1+12/100)^3
                                       =25000(1+0.12)^3
                                       =25000x1.404928
                                       =35123.2 rs

compound interest       =35123.2-25000
                                       =10123.2 rs  [answer]

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