Aman has a recurring deposit account in a bank. He deposits ₹ 3600 per month for 4 years. If he gets ₹ 180000 at the time of maturity, find the interest paid by the bank.
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P=Rs.3600
n=48 months
maturity value=Rs.180,000
maturity value =(P×n)+interest
180000=(3600×48)+interest
180000=172800+interest
interest =180000-172800
interest =Rs.7200
n=48 months
maturity value=Rs.180,000
maturity value =(P×n)+interest
180000=(3600×48)+interest
180000=172800+interest
interest =180000-172800
interest =Rs.7200
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