GPL Mathematical Skills | Simple Interest and Compound Interest

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Q. No. 31:	What would be the compound interest accrued on an amount of Rs 8400 at the rate of 12.5% per annum at the end of 3 years ? (Rounded off two digits after decimal).
A :	Rs 4205.62
B :	Rs 2584.16
C :	Rs 3560.16
D :	Rs 3820.14

Solution Answer: C CI = P(1+ r/100)^t - P => 8400(1 + 12.5/100)³ - 8400 => 8400 (1 + 1/8)³ - 8400 => 8400 [729/512 - 1] => 113925/32 => 3560.16.