Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly Select the correct option:
A) Rs 2520	B) Rs 2521	C) Rs 2522	D) Rs 2523	E) None of these
Explanation:   Please remember, when we have to calculate C.I. quarterly then we apply following formula if n is the number of years   Amount=P(1+R/4 /100)4n   Principal	= Rs.16,000;   Time=9 months	= 3 quarters;   Rate = 20%, it will be 20/4= 
<gadget id="calculator">20/4</gadget>
<output>5</output>
5%   So lets solve this question now,   Amount=16000(1+5/100)3=18522   Rs 2522.I=18522−16000=2522   Option Rs 2522
<result>C</result>
Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly