A bank offers 5% compound interest calculated on half yearly basis. A computer deposits Rs. 1600 each on January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest?

A bank offers 5% compound interest calculated on half yearly basis. A computer deposits Rs. 1600 each on January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest?

A. Rs. 120

B. Rs. 160

C. Rs. 170

D. Rs. 180

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