Question

estion 1.
a) Rishi has a cumulative deposit account in Bank of Baroda. He deposits Rs. 200 per month for a
period of 3 years. If at the time of maturity he gets Rs. 8088, find the rate of (simple) interest.​

Answer 1

Answer:

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Answer 2

Answer:

p= 200×12×3=7200

n=3years=36 months

m=8088

I=8088-7200=888

r=(100×I)/(P×T)

r=(100×888)/(7200×3)

r=296/72

r=4.11

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