Question

In a bank vineet deposited 200 per month for 8 months under the recurring deposit scheme. what will be the interest if the rate of interest is 8% per anum and the interset is calculated at the end of every month​

Answer 1

Answer:

if we deposit 200 rupees per month then for the eight months in deposit 1600 rupees and then it by 1600 200 will be the Homeland the sum then calculate the total interest per annum

Answer 2

Answer:

P=Rs 150 per month.

r=8% p.a

n=8 month

M.V=Pn+

2×12

P×n(n+1)

×

100

r

=(150×8)+

24

150×(8×9)

×

100

8

=1236