Question

mr richard opened a recurring deposited account in bank and deposited rupees 2500 per month for 2 years if he get rupees 67500 at time of maturity find the rate of intrest per annum​

Answer 1

Answer:

Step-by-step explanation:

NSWER

Given

Instalment per month P= ₹ 2500  

Number of months n=24

Amount received at the time of maturity = ₹ 67500.    

Let the total interest earned =I  

We know that,  

Maturity value = Money deposited + Interest

∴67500=2500×24+I

⇒67500=60000+I

⇒I=67500−60000

⇒I=7500

Hence, the total interest earned is ₹ 7500