A bank offers 4.5% compound interest calculated on half-yearly basis. A customer deposits $ 1500 in 1st month. At the end of the year, the amount he would have gained by way of interest is?  Answers.
A) 100 B) 90 C) 60 D) 77 E) 85
Amount = (1500)* (1 + (4.5/2*100))^2   Amount = 1500 * (1+0.0225)^2 = 1577 ------(for investment in 1st month)   Interest = 1577-1500 = 77.............. Ans -77
<result>D</result>
A bank offers 4.5% compound interest calculated on half-yearly basis. A customer deposits $ 1500 in 1st month. At the end of the year, the amount he would have gained by way of interest is?