Discussion :: Compound Interest
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What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
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Answer : Option C
Explanation :
Amount=Rs.[25000\(*(1+\frac { 12 } { 100 } )^3]\)
=Rs.[25000\(*\frac {28 } { 25 } \)\(*\frac {28 } { 25 } \)\(*\frac {28 } { 25 } \)]
= Rs. 35123.20
C.I. = Rs. (35123.20 - 25000) = Rs. 10123.20
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