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:
Correct answer B. Rs. 121
Tip: press A, B, C or D to answer, and N for the next question.
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More Compound Interest questions
See allThe difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
Correct answer A. 625
There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
Correct answer C. Rs. 3972
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What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
Correct answer A. Rs. 2.04
What is the compound interest earned at the end of 3 years? I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500. II. The rate of interest is 10 p.c.p.a. III. Compound interest for 3 years is more than the simple interest for that period by Rs. 465.
Correct answer D. I and Either II or III only
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