What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.?  Choose the correct option.
A) rs . 14705.24 B) rs . 14602.25 C) rs . 14822.26 D) rs . 14322.10 E) rs . 15350.23

Rationale: explanation : amount after 3 years = p ( 1 + r / 100 ) t = 40000 ( 1 + 11 / 100 ) 3 = 40000 ( 111 / 100 ) 3 = 40000 × 111 × 111 × 111 / 100 × 100 × 100 = 4 × 111 × 111 × 111 / 100 = 54705.24 compound interest = 54705.24 - 40000 = rs . 14705.24 answer : option a
Answer: A