Ashish deposits a certain sum of money every month in a recurring deposit account for a period of 12 months. If the bank pays interest at the rate of 11% p.a and Ashish gets ₹12,715 as the maturity value of this account, what sum of money did he pay every month??
Answers
Answered by
1
Answer:
S.I.=
100
PTR
S.I.=P×
2×12
n(n+1)
×
100
R
S.I.=P×
2×12
12(12+1)
×
100
11
S.I.=0.715P
Maturity value=(P×12)+0.715P
12,715=12.715P
∴P=
12.715
12,715
⇒P=Rs.1000
Answered by
0
Answer:
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