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
Answers
Answered by
0
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
Answered by
1
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
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