Question :
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:
1. Rs. 120
2. Rs. 121
3. Rs. 122
4. Rs. 123
Answer :
2 - Rs. 121
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