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Maths Puzzle
Numerical Ability
Sequence and Series
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. Rs. 120 B. Rs. 121
C. Rs. 122 D. Rs. 123
Read Solution (Total 1)
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- [1600(1+2.5/100)^2] + [1600(1+2.5/100)] - 2(1600) = 121
- 10 years agoHelpfull: Yes(0) No(2)
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