Question

Mr. raj deposits a certain sum of money each month in a recurring deposit account of a bank. if the rate of interest is of 8% per annum and Mr. raj gets rs. 8088 from the bank after 3 years find the value of his monthly instalment.

Answer 1

Find monthly installment by using interest formula and maturity value formula. MV= P*n*(n+1)*r /2*12*100 + P*n. Please mark as brainliest

Answer 2

Answer:

₹200

Check the posted picture.