Find the C.I. on Rs. 15,625 for 9 months at 16% per annum compounded quarterly?	Choose the correct choice from the following answers.
A) 2776  B) 2777  C) 1951  D) 2966  E) 1971
Explanation:   P = Rs. 15625, n = 9 months = 3 quarters, R = 16% p.a. per quarter.   Amount = [15625 * (1 + 4/100)3]   = (15625 * 26/25 * 26/25 * 26/25) = Rs. 17576 C.I. = 17576 - 15625 = Rs. 1951.   Answer: 1951
<result>C</result>
Find the C.I. on Rs. 15,625 for 9 months at 16% per annum compounded quarterly?