Question

In the bank Gurmeet opened a recurring account for one year.if the rate of interest is 4% per annum the bank pays ₹3065 on maturity, find how did Gurmeet deposit per month?

Answer 1

Step-by-step explanation:

let the principal = p

p× 12 + p×12×13×4/2400 = 3065

12p + 624p/2400 = 3065

28800p + 624p/2400 = 3065

29424p/2400 = 3065

p = 3065×2400 / 29424

p = 250

here, answer of ur question