Question

6. Anil deposits 300 per month in a recurring deposit
account for 2 years. If the rate of interest is 10% per
year, calculate the amount that Anil will receive at
the end of 2 years, i.e., at the time of maturity.​

Answer 1

Answer:

principle = 300×24 = 7200

rate =10%p.a.

time=2 years

As we know that,

S.I =P×R×T/100

S.I =7,200×10×2 /100

S.I =1440

Answer 2

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