The difference between CI and SI on a certain sum at 12.5% p.a. for 3 years is Rs.500. What is the sum
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The difference between compound interest and simple interest over three years is given by
= P(r/100)^2*{(r/100)+3}
= P * (12.5/100)^2 * [(12.5/100) +3]
500 = P * 0.0156 * 3.125
P = 10256.
Sum = Rs 10256.