What is the correct answer?

4

# Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, Compounded quarterly.

2344

2455

3244

2522

### Correct Answer :

D. 2522

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.

= Rs. (18522 - 16000) = Rs. 2522.