Question

A draws 1000 per month on the last day of every month. if the rate of interest is5% p. a. then the total interest n drawing will be.​

Answer 1

Answer:

Explanation:

Monthly withdraw : 1000

Yearly Withdraw : 12*1000

                            : 12000

Interest : 5% on 12000

             : 5/100*12000

             :600

Interest will be ₹ 600 /-