A bank offers $5 \%$ compound interest calculated on half-yearly basis. A customer deposits $Rs. 1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year, the amount (In $Rs.$) he would have gained by way of interest is
A bank offers $5 \%$ compound interest calculated on half-yearly basis. A customer deposits $Rs. 1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year, the amount (In $Rs.$) he would have gained by way of interest is
- A
$120$
- B
$121$
- C
$122$
- D
$123$
Similar Questions
On what sum will the compound interest (In ₹) for $2 \frac{1}{2}$ years at $10 \%$ amount to ₹ $6352.50 ?$
On what sum will the compound interest (In ₹) for $2 \frac{1}{2}$ years at $10 \%$ amount to ₹ $6352.50 ?$
A sum of money borrowed and paid back in two annual instalments of ₹ $882$ each allowing $5 \%$ compound interest. The sum (In ₹) borrowed was
A sum of money borrowed and paid back in two annual instalments of ₹ $882$ each allowing $5 \%$ compound interest. The sum (In ₹) borrowed was
In certain years a sum of money is doubled itself at $6 \frac{1}{4} \%$ simple interest per annum, then the required time (In $years$) will be
In certain years a sum of money is doubled itself at $6 \frac{1}{4} \%$ simple interest per annum, then the required time (In $years$) will be
What will be the amount (In ₹) if a sum of ₹ $5000$ is placed at compound interest for $3$ years while rate of interest for the first, second and third years is $2,3$ and $4$ per cent, respectively?
What will be the amount (In ₹) if a sum of ₹ $5000$ is placed at compound interest for $3$ years while rate of interest for the first, second and third years is $2,3$ and $4$ per cent, respectively?
The value of a machine depreciates at the rate of $12$ $per$ $cent$ per annum. It was purchased $3$ $years$ ago. Its present value is $Rs. 29644.032$, what was the purchase price (In $Rs.$) of the machine?
The value of a machine depreciates at the rate of $12$ $per$ $cent$ per annum. It was purchased $3$ $years$ ago. Its present value is $Rs. 29644.032$, what was the purchase price (In $Rs.$) of the machine?