Mr. Sunil has a recurring bank account of Rs . 2000 per month for a period of 4 years . What amount will he get at the time of maturity If the rate of interest is 12 % S.I ?
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Step-by-step explanation:
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Answered by
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Step-by-step explanation:
principle(P)=rs.2000
time(T)=4yrs
rate of interest(R)=12%
Amount=?
simple interest(S.I)= PTR/100
=2000*4*12/100
=Rs.960
amount=P+I
=2000+960
=Rs.2960
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