Question

240 + TUV + 110 )
A man deposits + 600 on the first day of every month beginning from
January. If the rate of interest is 6% p.a., what amount will be at his
credit at the end of 6 months?
(J.A.C., 2009)
Ans. + 3,663​

Answer 1

Step-by-step explanation:

Principal= 600rs

Rate of interest = 6%pa

Time (no. of months n)=6

Let maturity value at 6 month end be Xrs

Then, interest= 600×[6(6+1)/24]x6/100

or 6× 7/4×6

or 36 ×7/4

or Interest= 63Rs

so , Maturity value= (600×6)+I

or MV= 3663 Rs