Question

Ahana deposited Rs. 500 every month in a cumulative deposit account for 2 years. If she receives Rs. 1000 as interest at the time of maturity, then the amount she gets on maturity is

Answer 1

answer:Rs.15450

Step-by-step explanation:

P=600

n=2x12 = 24

r=7%

MV = Pn + \frac{Pn(n+1)r}{12 * 2 *100}MV=Pn+

12∗2∗100

Pn(n+1)r

= 14400+1050

= Rs.15450