If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
Clearly, Rate = 5% p.a .,
Time = 3 years
So,Principal =Rs.(100 x 1200/3x5)
Amount =Rs.[8000 x (1+5/100)³]
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