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:

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

Answer 2

Answer:

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 is 1236