Mathematics · Compound Interest
A bank offers compound interest at the rate of 10% per annum when interest is compounded half-yearly. A customer deposits Rs. 3,200 each on 1st January and 1st July of a year. At the end of the year, what will be the amount received by the customer as interest?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 528
- 2Rs. 720
- 3Rs. 656
- 4Rs. 488✓
Correct answer
Rs. 488
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