Question

Manish deposit 300 per month in a running account for 1year . find the amount he will get at the time of maturity if the rate of interest is 8percent p.a​......... plz frnds help me .... I need this answer plz help ​

Answer 1

Answer:

P=1000

T=3 years

n=12×T

=12×3=36

R=8%

M.V=Pn+

2×12

P×n(n+1)

×

100

R

=(1000×36)+

24

1000×36×37

×

100

8

=3600+4440

=40,440

Hence Matured value =Rs.40440

Answer 2

Step-by-step explanation:

Given: P=₹300

T=1 yr

R=8%

We have,

SI= P×R×T÷100

=300×8×1÷100

=2400/100

=24

Therefore, Amount=Principal+SI

= 300 + 24 = 324