Question

Kiran deposited rs 200 per month for 36 months in recurring deposit account if the bank pay interest at the rate of 11% per annum find the amount she gets on maturity

Answer 1

Answer:

Let the monthly installment be P .Given, P = 200 , n = 36 , r = 11% Interest = Pn(n + 1)r2400 = 200 × 36 × 37 × 112400 = 1221 We know, maturity amount

Answer 2

Answer:

Ruppes pre. month=200

after 36 month = ?

intrest annual rate = 11%

200×36=7200

7200-11%=6406

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