Question

Ashima deposited ₹ 2500 per month for 2 years .at the time of maturity she gets ₹ 67,500 find total interest and rate of interest​

Answer 1

Step-by-step explanation:

Given, maturity value =66,250, monthly installment =2,500, n=2 years =2×12=24 months

Interest =

2400

Pn(n+1)r

=

2400

255×24×25×r

=625r

Therefore, amount =(Pn+625r)

⇒66,250=(2500×24+625r)

⇒66,250=60,000+625r

⇒6250=625r

⇒r=10%