A man deposited Rs 500 per month for 10 months and received Rs 1300 as interest.find maturity value.
anyone plz answer.
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Answers
Given : a man deposited 500 rupees per month for 10 month and received 3300 Rs 1300 as interest
To find : maturity value.
Solution:
Man deposited every month = Rs 500
=> Man deposited in 10 months = 10 x 500 = Rs 5000
interest received = rs 1300
Maturity Value = ?
Maturity value = Amount deposited + Interest earned
=> Maturity value = 5000 + 1300
=> Maturity value = 6300
Hence Maturity value is Rs 6300
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Given : a man deposited 500 rupees per month for 10 month and received 3300 Rs 1300 as interest
To find : maturity value.
Solution:
Man deposited every month = Rs 500
=> Man deposited in 10 months = 10 x 500 = Rs 5000
interest received = rs 1300
Maturity Value = ?
Maturity value = Amount deposited + Interest earned
=> Maturity value = 5000 + 1300
=> Maturity value = 6300
Hence Maturity value is Rs 6300