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Reported Question / Answer
Q.) 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. 121
2)
Rs. 120
3)
Rs. 123
4)
Rs. 122
5)
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Answer :
1
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