mr kumar has a recuring deposit in a bank for 4 years at 10%p.a. rate of interest if he gets Rs 21560 as interest at the time of matuniry, find the monthly installment.
pl ans as fast as posible.
Answers
Answered by
3
Given, maturity value =66,250, monthly installment =2,500, n=2 years =2×12=24 months
Interest =
2400
Pn(n+1)r
=
2400
255×24×25×r
=625r
Therefore, amount =(Pn+625r)
⇒66,250=(2500×24+625r)
⇒66,250=60,000+625r
⇒6250=625r
⇒r=10%
I hope this helps you dear
Answered by
0
Answer:
i don t no
Step-by-step explanation:
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