A bank offers compound interest per half year. A customer deposits each on and of a year. At the end of the year, the amount he would have gained by way of interest is:
- A
- B
- C
- D
Solution & Step-by-step Explanation
The interest is compounded half-yearly at a rate of per half-year.For the deposit made on :This amount remains in the bank for two half-year periods.
For the deposit made on :This amount remains in the bank for one half-year period.
Total Interest Gained:
For the deposit made on :This amount remains in the bank for one half-year period.
Total Interest Gained: