Business Studies, asked by sweatdevil8537, 1 year ago

If a person invests some amout of money per month in a recurring deposir account for 3/2 years at 12% p.A. If maturity value is rs 70956,find the sum invested per month

Answers

Answered by devansh2601

Time - 18 months
Rate- 12%p.a.
M.V.- 70956
Formula:
MV= Interest+Sum invested
70956= 12*18*19*P/2400 + P*18
70956= 171*P/100 + P*18
70956=18.71*P
P=3701.408

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