The compound interest on certain principal at the rate of 12.5% p.a. compounded annually is Rs. 1296 in 3rd year. Find the principal.
Answer & explanation
Correct answer: option 4
12.5% = \(\frac{1}{8}\)
Now, ATQ
81R = 1296
1R = 16
Principal = 512R = 512 × 16 = Rs.8192