Question

(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.>​

Answer 1

Answer:

deposit card is 500 in 3 years then the 8% is end point

Answer 2

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• Find the maturity value of the deposit.

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Principal investment =500×3×12

• =18000/−

Simple interest= P × R × T / 100

2220 = 18000×r×3/100

• r=4.11%

Maturity value of interest =Principle +interest

• =18000+2220
• =Rs.20220