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Vishal Mehra

· started a discussion

· 1 Months ago

Short cut (Question:257177.0)

0.025 * 1600= 40
0.025* 1600 +0.025*1640= 81
Total 121

Question:

A bank offers 5% compound interest calculated 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 –

Options:
A)

Rs.120

B)

Rs.121

C)

Rs.122

D)

Rs.123

Solution:

Ans: (b)

  

Knowledge Expert

· commented

· 1 Months ago

Dear student,
Given answer is correct.
And your approach is also correct

Keep learning Keep solving
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