A bank offers 5% C.I. calculated on half-yearly basis . A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is?
A. Rs. 120
B. Rs. 121
C. Rs. 122
D. Rs. 123
Answer:B
A bank offers 5% C.I. calculated on half-yearly basis . A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is?
A. Rs. 120 B. Rs. 121 C. Rs. 122 D. Rs. 123