Question

manoj opened a recurring deposit account with Punjab national Bank and deposited 500 per month for 3 years the bank paid him 20220 on maturity find the rate of interest paid by the bank​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

maturity value =interest +(principal ×n)

20220 = interest +(500 ×36)

interest = 20220 - 18000

interest = 2220rs.

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