Question

# 77. 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: (b) Rs. 121 (d) Rs. 123 ​​​​​​​(a) Rs. 120                                                         (c) Rs. 122

Solution

## The correct option is 77. B C.I. = Rs. (3321 - 3200) = Rs. 121

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