Surabhi borrowed a sum of Rs 12000 form a finance company to purchase a refrigerator. If the rate of interest is 5% per annum compounded annually, calculate the compound interest that Surabhi has to pay to the company after 3 years.

Explanation

To calculate the compound interest that Surabhi has to pay after 3 years, we can follow these steps:

### Step 1: Identify the given values
- Principal (P) = Rs. 12000
- Rate of interest (R) = 5% per annum
- Time (T) = 3 years

### Step 2: Use the formula for compound interest
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