Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly Options:
A) 2875
B) 2654
C) 2645
D) 2456
E) 2522

Rationale: principal = rs . 16000 ; time = 9 months = 3 quarters ; rate = 20 % per annum = 5 % per quarter . amount = rs . [ 16000 x ( 1 + ( 5 / 100 ) ) 3 ] = rs . 18522 . ci . = rs . ( 18522 - 16000 ) = rs . 2522 answer : e
Answer: E