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

A. 2344

B. 2455

C. 3244

D. 2522

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Correct Answer : D.


               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.

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