Question

A man deposits 600 per month in a bank for 12 months under the recurring deposit scheme. what will be the maturity value of his deposits if the rate of interest is 8% p.a.,and interest is calculated at the end of every month ?

Answer 1

Answer:

NIOS the bank balance of the men will be 7200and PPF interest of 8% then in 2 years the interest will be increased by 20% and he will get 72000 rupees In his bank account