how to calculate savings deposit..plss help
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Step-by-step explanation:
the formula to calculate savings deposit is:-
1) intrest on savings account = daily balance*rate of intrest* (no. of days=365)
2) intrest = principal *rate of intrest
3) intrest: 100,000*8%=8000
4) total maturity value= 100,000+8000 = rs. 1,08,000
5) intrest(6months): 100,000*5.5%=5500
6) Pre-maturity value(6 months) = Rs.1,05,500
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