Rahman lent Rs 16000 to Rasheed at the rate of 12%  per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years.

Explanation

To find the amount payable by Rasheed to Rahman after 3 years with a principal of Rs. 16,000 at a compound interest rate of 12% per annum, we can follow these steps:

### Step 1: Identify the variables
- Principal (P) = Rs. 16,000
- Rate of interest (R) = 12% per annum
- Time (n) = 3 years

### Step 2: Use the compound interest formula
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