Question

5. Mr Sharma deposited Rs 500 every month in a cumulative deposit account for
2 years. If the bank pays interest at the rate of 7% per annum, then the amount
he gets on maturity is
A. Rs 875
B. Rs 6875
C. Rs 10875
D. Rs 12875

Answer 1

deposit in 2 years = 12000

interest = 7% of 12000

$\frac{7}{100} \times 12000 \\ = 840$

price with interest = 12000+840

=12840

I think your option are wrong

if my answer is wrong than plz forgive me

Answer 2

maturity amount = Rs 12875