Math, asked by pragati8094, 6 months ago

Mr Gupta deposited a certain rupee for every month in a bank for 2 years 3 months under recurring deposit scheme. if the maturity value is three times the deposited value. find the rate of percent per annum.



Its urgent..I hv my test ​

Answers

Answered by sadikulfahim
1

Answer:

Question 1

Manish opens a Recurring Deposit Account with the Bank of Rajasthan and deposits 600 per month for 20 months. Calculate the maturity value of this account, if the bank pays interest at the rate of 10% per annum.

Solution 1

Installment per month(P) = Rs. 600

Number of months(n) = 20

Rate of interest (r) = 10% p.a.

The amount that Manish will get at the time of maturity

=Rs (600 x 20)+ Rs 1,050

=Rs 12,000+ Rs 1,050

= Rs 13,050 Ans.

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