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Compound Interest Practice Test 3

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Question : 10

Total: 40

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 the way of interest is:

Rs. 123
Rs. 122
Rs. 121
Rs. 120

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