Find compound interest on $ 16000 at 15% per annum for 2 years 4 months, compounded annually.  Answers
A) 6109	B) 6209	C) 6218	D) 6107	E) 6100

Rationale: "time = 2 years 4 months = 2 ( 4 / 12 ) years = 2 ( 1 / 3 ) years . amount = $ [ 16000 x ( 1 + ­ ( 15 / 100 ) ) 2 x ( 1 + ( ( 1 / 3 ) * 15 ) / 100 ) ] = $ [ 16000 * ( 23 / 20 ) * ( 23 / 20 ) * ( 21 / 20 ) ] = $ 22218 . : . c . i . = rs . ( 22218 - 16000 ) = $ 6218 answer c ."
Answer: C