Question 142

What will be the compound interest on a sum of Rs. 25,000 after three years at the rate of 12 p.c.p.a ?

Solution

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Total Amount = $$25000*(1+12\%)^3$$ = 1.404928 * 25000=35123.2

Hence, CI = 35123.2 - 25000 = 10,123.2

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