Question

10. Punam opened a recurring deposit account with Bank of Baroda for 1
1
years. If the rate
2
of interest is 6% per annum and the bank pays 311313 on maturity, find how much Punam
deposited each month?​

Answer 1

Answer:

Let A be the amount

Interest us = 1 x 6/100 x A = 3,11,313

6A = 3,11,313 x 100

Amount = 3,11,31,300 /6 = 51,88,550 Rs.