Deepa has a 4-year recurring deposit account
in a bank and deposits Rs. 1,800 per month. If
she gets Rs. 1,08,450 at the time of maturity,
find the rate of interest.
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Principal = 1800 per month
time 4 year
interest 1,08,450
Rate= I ×100÷ Principal× time
1,08,450×100÷1800×48
rate = 25 %
we do compound interest
P(1×R÷100)t
1800(1×25÷100) 4 years in month = 48
1800 (125) ÷100
1800(125÷100 continue to 48
you will get interest 1,08,450
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