Vijay obtains a loan of Rs. 64000 against his fixed deposits. If the rate of interest by 2.5 paise per rupee per annum, calculate the compound interest payable after 3 years.

Explanation

To solve the problem of calculating the compound interest payable after 3 years for Vijay's loan of Rs. 64,000 at a rate of 2.5 paisa per rupee per annum, we will follow these steps:

### Step 1: Identify the given values
- Principal (P) = Rs. 64,000
- Rate of interest (R) = 2.5 paisa per rupee
- Time (N) = 3 years

### Step 2: Convert the rate of interest from paisa to percentage
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