Question
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.?
Answer: Option C
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Amount = Rs. \(\left[25000\times\left(1+\frac{12}{100}\right)^{3}\right]\)
= Rs. \(\left(25000\times\frac{28}{25}\times\frac{28}{25}\times\frac{28}{25}\right)\)
= Rs. 35123.20
So, C.I. = Rs. (35123.20 - 25000) = Rs. 10123.20
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