(b) Ms Jagwani invests ₹500 every month in a cumulative deposit scheme for 3 years at a simple>interest rate of 8% p.a.>(1) Find the total interest she will earn at the end of the period.>(ii) Find the maturity value of the deposit.>
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Principal= 500
Rate pf interest = 8%
time = 3years
Simple interest = p×r×t
=500 × 8× 3/100
=5×8×3
=120
Amount= P + S.I
=500+120
=620
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