This paper discusses the detailed experimental investigations on the performance of interferometer based fiber optic hydrophones with different Phase Generated Carrier (PGC) demodulation algorithms for their interrogation. The study covers the effect on different parametric variations in the PGC implementations by comparison through Signal to Noise And Distortion (SINAD) and Total Harmonic Distortion (THD) analysis. This paper discusses experiments on most popular algorithms based on PGC like Arctangent, Differential Cross Multiplication (DCM) and Ameliorated PGC. A Distributed Feed-Back Fiber Lasers (DFB-FL) based fiber optic hydrophone, with Mach-Zehnder Interferometer having active phase modulator in reference arm and mechanism to cater polarization related intensity fading were used for the experiments. Experiments were carried out to study the effects of various parameters like the type and configuration of low pass filter, frequency of the modulation signal, frequency of acoustic signal etc. It is observed that all the three factors viz. the type of low pass filter, frequency of modulating and acoustic signal plays important role in retrieving the acoustic signal, based on the type of algorithms used and are discussed here.