A bank offers $5 \%$ compound interest calculated on half-yearly basis. A customer deposits ₹ $1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year, the amount (In ₹) he would have gained by way of interest is
A bank offers $5 \%$ compound interest calculated on half-yearly basis. A customer deposits ₹ $1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year, the amount (In ₹) he would have gained by way of interest is
- A
$120$
- B
$121$
- C
$122$
- D
$123$
Similar Questions
In how many $years$ will a sum of ₹ $800$ at $10 \%$ per annum compounded semi-annually become ₹ $926.10$?
In how many $years$ will a sum of ₹ $800$ at $10 \%$ per annum compounded semi-annually become ₹ $926.10$?
A man borrows ₹ $3825$ to be paid back with compound interest at the rate of $4 \%$ per annum by the end of $2$ years into equal yearly instalments. How much will be each instalment (In ₹) ?
A man borrows ₹ $3825$ to be paid back with compound interest at the rate of $4 \%$ per annum by the end of $2$ years into equal yearly instalments. How much will be each instalment (In ₹) ?
What is the difference between the simple and the compound interest (In ₹) on ₹ $7,300$ at the rate of $6$ $p.c.p.a.$ in $2$ years?
What is the difference between the simple and the compound interest (In ₹) on ₹ $7,300$ at the rate of $6$ $p.c.p.a.$ in $2$ years?
There is $60 \%$ increase in an amount in $6$ $years$ at simple interest. What will be the compound interest (In ₹) of ₹ $12000$ after $3$ years at the same rate?
There is $60 \%$ increase in an amount in $6$ $years$ at simple interest. What will be the compound interest (In ₹) of ₹ $12000$ after $3$ years at the same rate?
A sum of ₹ $15000$ deposited at compound interest becomes double after $5$ $years.$ After $20$ $years$, it will become (In ₹)
A sum of ₹ $15000$ deposited at compound interest becomes double after $5$ $years.$ After $20$ $years$, it will become (In ₹)