The compound interest on a sum of Rs. 15625 for 
years at 16% per annum, The interest compound annually is :
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 7923
CI = P(1 + R/100)T - P
CI = 15625(1 + 16/100)11/4 - 15625
CI = 23548 - 15625 = Rs. 7923