Malti has a cumulative time deposit account and deposits rs 240 per month for two years. If at the time of maturity she gets 6300 find the rate of interest
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P=₹240
n=24 months
r=
M.V= ₹630
interest= 240×24×25×r/2×12/100
24×25×r/10
600×r/10
r=600/10
r=60
Explanation: formula of interest
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