Mathematics · Compound Interest
A bank pays compound interest at the rate of 5% per annum compounded half-yearly. A customer deposited Rs. 1,600 each on 1st January and 1st July in a calendar year. Find the total interest he gets at the end of the year.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 88
- 2Rs. 132
- 3Rs. 121✓
- 4Rs. 91
Correct answer
Rs. 121
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