Question

what will be the compound interest on Rs 25000 after 3 years at the rate of 12% per annum​

Answer 1

Answer:

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Question

Find the interest on Rs.25000 at 12% p.a compounded annually for 3 years.

9,000

9,833.40

10,123.20

10,678.90

Answer (Detailed Solution Below)

Option 3 : 10,123.20

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Detailed Solution

Given:

Principal = Rs. 25000

Rate of interest = 12% p.a.

Time period = 3 years

Formula Used:

C.I. = P × ((1 + r/100)t - 1)

Calculations:

Principal = Rs. 25000

Rate of interest = 12% p.a.

Time period = 3 years

C.I. = P × ((1 + r/100)t - 1)

⇒ C.I. = Rs. 25000 × ((1 + 12/100)3 - 1)

⇒ C.I. = Rs. 10123.20

∴ The compound interest is Rs. 10123.20.