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- A bank offers 5% C.
Question 1:
A bank offers 5% C.I. 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? A. Rs. 120
B. Rs. 122
C. Rs. 121
Feedback Amount = [1600 * (1 + 5/(2 * 100)2 + 1600 * (1 + 5/(2 * 100)]
= [1600 * 41/40(41/40 + 1)
= [(1600 * 41 * 81)/(40 * 40)] = Rs. 3321.
C.I. = 3321 - 3200 = Rs. 121.
= [1600 * 41/40(41/40 + 1)
= [(1600 * 41 * 81)/(40 * 40)] = Rs. 3321.
C.I. = 3321 - 3200 = Rs. 121.
D. Rs. 123
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