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Quantitative Aptitude

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Simple Interest & Compound Interest

Question
12 out of 30
 

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:



A Rs. 120
B Rs. 121
C Rs. 122
D Rs. 123
E None of these

Ans. B

CI = 3321 – 3200 = 121

Simple Interest & Compound Interest Flashcard List

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