A bank offers 5%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 by way of interest is=?

A bank offers 5%compound interest calculated on half yearly basis. A c

1.	A bank offers 5%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 by way of interest is=?
A.	s. 120
B.	s. 121
C.	s. 122
D.	s. 123
Answer» C. s. 122

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A bank offers 5%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 by way of interest is=?

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