Solution:
Interest on principle deposited on January 1, t2= 81
Interest on principle deposited on 1st July
= 40
Total interest = 81 + 40 = 121
Hence option B is correct.
MathematicsA bank offers 5% CI 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 the way of interest isClass: 9
A bank offers 5% CI 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 the way of interest is
Class: 9
= 81
Interest on principle deposited on 1st July
= 40
Total interest = 81 + 40 = 121
Hence option B is correct.
