Compound interest on ₹16000 at 20% per annum for 9 months, compounded quarterly is:

₹2522

Amount = Principal × ( 1 + \(\frac{r}{ 100 }\) )ⁿ

9 months = 3 quarter

Net rate = \(\frac{ 20 }{ 4 }\)% = 5%

A = P × ( 1 + \(\frac{5}{ 100 }\) )³

A = 16000 × ( 1 + \(\frac{5}{ 100 }\) )³

= 16000 × (  \(\frac{21}{ 20 }\) )³

= 16000 × \(\frac{9261}{ 8000 }\)

= 18522

Amount = Principal + Compound Interest

18522 = 16000 + Compound Interest

Compound Interest = 2522

(3) → ₹2522