Math, asked by khanakdudhi161, 5 months ago

David opened a recurring deposit account in a bank and deposited RS300 per month for two years. if he received RS7725 at the time of maturity, find the rate of interest per annum. if you know the answer then only answer me otherwise I will report it​

Answers

Answered by perinanajwala85
0

Answer:

means it is

300 \times 2 = 600 = 7725 - 600 = 7125

Answered by khanakdudhi16169
3

Answer:

Maturity value = 7725, P = 300, N = 24

Maturity value = p×n + p×n (n + 1)/2 ×1/12 ×r/100

7725 = 300 × 24 + 300n (n+1)/2 ×1/12 ×r/100

7725 - 7200 = 300×24×25/2 × 1/12 × r/100

525 = 75×r

525/75 = 7

Rate = 7

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