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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.?

Rs. 9000.30
Rs. 9720
Rs. 10123.20
Rs. 10483.20
None of these

Correct Answer: Rs. 10123.20

Explanation:

Amount

= Rs.	[	25000 x	❨	1 +	12	❩	3	]
					100

= Rs.	❨	25000 x	28	x	28	x	28	❩
			25		25		25

= Rs. 35123.20

∴ C.I. = Rs. (35123.20 - 25000) = Rs. 10123.20

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