Question

Find the compound intersect on $Rs,25000$ at the rate of interest $12\%$ per annum for three years.

Answer 1

Given that,

$p=Rs.25000$, $r=12$%, $t=3$ years

$C.I.=p{(1+\frac{r}{100})}^t$

$C.I.=25000{(1+\frac{12}{100})}^3$

$C.I.=25000\times (1.12{)}^3$

$C.I.=Rs.35123.2$

Hence, the compound interest is $Rs.35123.2$