The compound interest on rs 16000 at 20 per annum for 9 months
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Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.
CJ. = Rs. (18522 - 16000) = Rs. 2522
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