A bank offers 5% C.I. 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?  Answers:
A) Rs. 120
B) Rs. 121
C) Rs. 122
D) Rs. 123
E) Rs. 124
Amount = [1600 * (1 + 5/(2 * 100)2 + 1600 * (1 + 5/(2 * 100)]   = [1600 * 41/40(41/40 + 1)   = [(1600 * 41 * 81)/(40 * 40)] = Rs. 3321.   C.I. = 3321 - 3200 = Rs. 121.   ANSWER:Rs. 121
<result>B</result>
A bank offers 5% C.I. 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?