Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly . .
Principal = Rs. 16000 , Time = 9 months = 3 quarters.
Rate = 20% per annum = 5% per annum
`:.` Amount = Rs.` [16000 xx (1 + 5/100)^3]`
= Rs. `(16000 xx 21/20 xx 21/20 xx 21/20)`
=Rs. 18522
`:.` C.I. = Rs. (18522 - 16000)
=Rs. 2522
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