Amit deposits ` 1600 per month in a bank for 18 months in a recurring deposit account. If he gets ` 31,080 at the time of maturity, what is the rate of interest per annum?
Answers
Answered by
3
because,1600 per month means 18 months to 1600 × 18 = 28800
That's why,P=28800
SI=31080
T=18 month
=1.5years
=3/2years
R=?(X)
Solve,
R=(SI×100)/(P×T)
=(31080×100)/(28800×3/2)
=(31080×100×2)/(28800×3)
=6216000/86400
=71.94%
That's why R=71.94% Ans.
That's why,P=28800
SI=31080
T=18 month
=1.5years
=3/2years
R=?(X)
Solve,
R=(SI×100)/(P×T)
=(31080×100)/(28800×3/2)
=(31080×100×2)/(28800×3)
=6216000/86400
=71.94%
That's why R=71.94% Ans.
SiddharthMardi:
it is wrong
Answered by
10
Answer:
answer is 10%
Step-by-step explanation:
interest =2280
2280=p*n(n+1)*r/(2*12*100)
2280 =228r
r =10%
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