State true/false:

 The compound interest on ₹ 2000 at 12% p.a. for 3 years compounded quarterly is ₹791.5.

The given statement is false.

Given,

Principal (P) = ₹ 2000

R= 10% pa

Quarterly rate = 3% pa

In 3 years, the amount will be compounded 12 times.

$\begin{array}{rcl}\mathrm{Amount}& =& \mathrm{P}{\left(1+\frac{\mathrm{R}}{100}\right)}^{\mathrm{n}}\\ & =& ₹ 2000{\left(1+\frac{3}{100}\right)}^{12}\\ & =& ₹ 2000\times 1.4258\\ & =& ₹ 2851.5\end{array}$

CI = Amount - Principal

CI = ₹ 2851.5 - ₹ 2000 = ₹ 851.5.