29.Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.
A. Rs. 2552 B. Rs. 2512
C. Rs. 2572 D. Rs. 2592
Answer:
Principal = Rs.16,000;
Time=9 months = 3 quarters;
Amount
=Rs.[16000x(1+5/100)³]
=[16000x21/20x21/20x21/20]
= Rs.18522.
C.I = Rs.(18522 - 16000)
= Rs.2522.
