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Find the compound interest (in ₹) on ₹16000 for 9 months at 20% per annum, compounded quarterly.

Competition practiceRatio, Percentage & Commercial Math
  • A2400
  • B3200
  • C2500
  • D2522

Step-by-Step Solution

Quarterly the rate is 20/4 = 5% and 9 months is 3 quarters: 16000 → 16800 → 17640 → 18522. CI = 18522 − 16000 = ₹2522. (₹2400 is the simple interest for 9 months and ₹3200 a full year's simple interest.)
Answer: D) 2522

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