Question

A man has a Recurring Deposit Account in a
bank for 3/2 years. If the rate of interest is 12%
per annum and the man gets * 10,206 on
maturity, find the value of monthly instalments.​

Answer 1

Answer:

Step-by-step explanation:

n=3/2 year=18 months

r=12%

M.V=10206

P=?

M.V=p*n+p*(n(n+1)/2*12)*r/100 10206=18p+p* (18*19/2*12)*12/100

10206 =18p+1.71p

19.71p=10206

p=517.81

Answer 2

Step-by-step explanation:

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