Math, asked by swaranjaliaptekar1, 11 hours ago

A man deposited 1500 every month in a bank for 8 months under the recurring deposit scheme. If the rate of interest is 8% p.a., then the interest earned at the time of maturity is : ​

Answers

Answered by XxLUCYxX
2

Answer in image

It will help you out

Chapter name BANKING

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Answered by mithanaarjunreddy
1

The Interest of Every month is

p.a=960÷8 Months =120 Interest

Step-by-step explanation:

8 Months deposit =1500×8=12,000

8 percent p.a= 8 percent of 12000=960

Then,the interest of each month is

960 ÷ 8 = 120 for every month.

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