Question

13 Upens 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:

=13050

Step-by-step explanations:

P = ₹600

Time (n) = 20months

R = 10% p.a

interest = 600× [ 20(20+1) ÷12×2] × 10÷100

= 50×21

= ₹1050 ------ans

MV. = P×n+I

= 600×20+1050

= 12000+1050

= ₹13,050--------ans

Hope it will help you

Answer 2

Answer:

=13050

Step-by-step explanations:

P = ₹600

Time (n) = 20months

R = 10% p.a

interest = 600× [ 20(20+1) ÷12×2] × 10÷100

= 50×21

= ₹1050 ------ans

MV. = P×n+I

= 600×20+1050

= 12000+1050

= ₹13,050--------ans

Hope it will help you