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A bank offers 5% compound interest calcu...

A bank offers 5% compound interest calculated on half- yearly basis. A customer deposits 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

₹120

B

₹ 121

C

₹ 123

D

₹ 122

Text Solution

Verified by Experts

The correct Answer is:
B
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