Mrs Jacob has a 5 year recurring deposit account in State Bank Of India and deposits Rs. 2400 per month. If she receives Rs.205910 at the time of maturity, find the rate of interest
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Answer:
Step-by-step explanation:
I=2400 * 60 * 61 * 1/2*1/12*R*1/100
3660R=I
205910=144000+3660R
61910=3660R
R=16.9153005464
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