Question

A bank offers 20% compound interest per half year. A customer deposits Rs 2800 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 3584 B) Rs 896 C) Rs 1792 D) Rs 448

Answer 1

Answer:1792

Please refer the attachment

Answer 2

Answer:

p (1+R/100) raised to power 2n

so, 2800 (1 + 1/5) 2

2800(7/5) 2

560

I think I do it verbal

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