A bank offers compound interest at the rate 5% per annum calculated half yearly on its deposits. A customer deposits Rs. 2,400 each on 1st January and 1st July of a year. Find the amount he received at the end of the year. 

Correct option is B

​$$Amount = Principal ( {1+\frac{R}{100}})^t$$

When interest is compounded half- yearly , then rate becomes half and time gets doubled.
Final Amount = Amount received on 1st Jan principal + Amount received on 1st July principal

Final Amount = $$2400 ( {1+\frac{2.5}{100}})^2 + 2400 ( {1+\frac{2.5}{100}})$$

Final Amount = Rs. 4981.5