Amit deposited rupees 150 per month in a bank for 8 months under the Recurring Deposit scheme what will be the
maturity value of his deposits,
if the rate of interest as 8% per
annum and interest is calculated
at the end of every month.
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Answer:
p 150
t 8
rate 8% p.a.
S.I P*R*T/100
150*8*8/100/12
S.I 16rs
A P+S.I
150+16
166
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