A bank offers 5% annually compound interest 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 byway of interest is:

A bank offers 5% annually compound interest calculated on half-yearly

1.	A bank offers 5% annually compound interest 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 byway of interest is:
A.	Rs. 120
B.	Rs. 121
C.	Rs. 122
D.	Rs. 123
Answer» C. Rs. 122

Discussion

No Comment Found

Related MCQs

A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.723 more, if theinterest was payable half yearly than if it was payable annually. The sum is ____
The least number of complete years in which a sum of money put out at 20% compound interest will bemore than doubled is:
What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annumcompounded yearly and half-yearly?
A bank offers 5% annually compound interest 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 byway of interest is:
On a certain sum of money, compound interest earned at the end of three years = Rs. 1456. Compoundinterest at the end of two years is Rs. 880. Compute the principal invested.
If Rs. 1,200 amounts to Rs. 1,323 in two years at compound interest, then what will be the amount of Rs.1,600 in three years at compound interest at the same rate per cent?
In what time will a man receive Rs. 85 as compound interest on Rs. 320 at 12(1/2)% p.a. compoundedyearly?
If Rs. 1,200 amounts to rs 1,323 in two years at compound interest, then what will be the amount of rs1,600 in three years at compound interest at the same rate per cent ?
What sum(principal) will be amount to Rs.34536.39 at compound interest in 3 years, the rate of interest for1st, 2nd and 3rd year being 5%, 6% and 7% respectively?
A sum of rupees 3200 is compounded annually at the rate of 25 paise per rupee per annum. Find thecompound interest payable after 2 years.

A bank offers 5% annually compound interest 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 byway of interest is:

Discussion

No Comment Found

Related MCQs

Reply to Comment