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.?
papay dey Answered question February 15, 2025
Compound Interest (CI) formula:
CI = P × (1 + R/100)^Time – P
Given values:
P = Rs. 25,000
R = 12% per annum
Time = 3 years
CI = 25000 × (1 + 12/100)^3 – 25000
= 25000 × (1.12)^3 – 25000
= 25000 × 1.404928 – 25000
= 35123.2 – 25000
= 10123.2
The compound interest is Rs. 10,123.20.
papay dey Answered question February 15, 2025
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