Question

Each of A and B opened a recurring deposit account in a bank. If A deposited 1.200 per month for 3 years and B deposited 1,500 per month for 2 years; find, on maturity, who will get more amount and by how much? The rate of interest paid by the bank is 10% per annum.​

Answer 1

Answer:

A by 12960

Step-by-step explanation:

A's total amount 43200

30% of 43200= 12960 total amount A will get = 56160

B's total amount = 36,000

20%of 36000= 7200 So B will get total of 43200

So A will have 12,960 more thanB