Question

10. A man deposits * 900 per month in a recurring account for 2 years. If he gets 1,800 as
interest at the time of maturity, find the rate of interest.
AND DIVIDEND​

Answer 1

Answer:

100 %

Step-by-step explanation:

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Answer 2

Given:

P=900

n=24 months

I=1800

R%=?

I = P× n(n+1)/2×12 ×R/100

1800 = 900×24(25)/2×12 ×R/100

1800 = 225R

R = 1800/225

R = 8%

now,M.V = P × n + I

= 900×24+1800

= 21600+1800

=Rs. 23400

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