Mathematics · Compound Interest
A bank offers 9.4% compound interest per annum calculated on a half-yearly basis. A customer deposits ₹8,716 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is ________. (Give your answer correct to 2 decimal places.)
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,248.20✓
- 2₹1,238.89
- 3₹1,228.20
- 4₹1,256.82
Correct answer
₹1,248.20
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