Find the C.I. on Rs. 15,625 for 9 months at 16% per annum compounded quarterly?
Answer: C
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.