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 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 isClass: 9

1. A
Rs 120
2. B
Rs 121
3. C
Rs 122
4. D
Rs 123

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### 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.

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