Question

mohit deposited Rs 220 per month in RD deposit account for 36 month. find maturity value if the rate of interest is 12% per annum​

Answer 1

P=Rs220

n=36 months

r=12%

I=P×n(n+1)/2×12 ×r/100

=200×36×37/2×12 ×12/100

=7326/5

I =Rs1465.2

M.V=P×n+I

=220×36+1465.2

M.V=Rs9385.2