Recently, Donley et al. performed an experiment on the dynamics of collapsing and exploding Bose-Einstein condensates by suddenly changing the scattering length of atomic interaction to a large negative value on a preformed repulsive condensate of 85 Rb atoms in an axially symmetric trap. Consequently, the condensate collapses and ejects atoms via explosions. We show that the accurate numerical solution of the time-dependent Gross-Pitaevskii equation with axial symmetry can explain some aspects of the dynamics of the collapsing condensate.