Question

If the bank pays interest at 6% per annum and the monthly instalment is Rs 1000, find:
(i) interest earned in 2 years
(i) matured value.

Answer 1

Answer:

2 Years. If the Bank Pays Interest at the Rate 6% per Annum and the Monthly Instalment Is Rs. 1000, Find The: Concept: Computation of Interest. ... Thus, the interest earned in 2 years is Rs. 1500. 2) Sum deposited in two years 24 x 1000 = 24,000. Maturity value = Total sum deposited in two years + Interest. = 24000

Step-by-step explanation:

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Answer 2

Answer:

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