Question

EXERCISE 2
1 Shweta deposits 350 per month in a recurring deposit account for one year at the rate
of 8% p.a. Find the amount she will receive at the time of maturity.
the Recurring Deposit​

Answer 1

Answer:

₹4382

Step-by-step explanation:

AMOUNT Shweta deposit:-₹350

RATE=8%

PERIOD (X)=1 YR= 12 MONTHS

total P for one month=350×[x(x+1)/2]

substituting the value of x

350×(12×13)2

350×78

27300

Interest=PRT/100

SUBSTITUTING THE VALUE

(273000×8×1)/(100×12)

₹182

Maturity value =P×x+SI

350×12+182

4200+182

₹4382