Question

1. Manish opens a Recurring Deposit Account
with the Bank of Rajasthan and deposits 600
per month for 20 months. Calculate the
maturity value of this account, if the bank pays
interest at the rate of 10% per annum​

Answer 1

Answer:

principal = 600

Time = 20months

Rate =10 %

Simple Interest =

$\frac{p \times r \times t}{2}$

=

$\frac{600 \times 20 \times 10}{2}$

=

$\frac{120000}{2}$

= 60000

Ans