1.  Find the compound interest on ₹ 15,625 for 9 months at 16% per annum compounded quarterly.
A. ₹ 1851
B. ₹ 1941
C. ₹ 1951
D. ₹ 1961

Answer: Option C

Explanation:

P = ₹ 15625, n = 9 months = 3 quarters,
R = 16% p.a. = 4% per quarter.

Amount:

= ₹ 15625 x 1 + 4 3
100
= ₹ 15625 x 26 x 26 x 26
25 25 25
= ₹ 17576

∴ C.I. = ₹ (17576 - 15625) = ₹1951