Question

5. Aman deposits 600 per month in a bank for 12
months under the Recurring Deposit Scheme
will be the maturity value of his deposits if the
of interest is 8% p.a., and interest is calculated
the end of every month?
interest​

Answer 1

Answer:

12 months deposit -600×12=7200

8 percent p.a = 8 percent of 7200=576

Then, The interest of every month is 576÷12=48