Question

Mrs Savita khosla deposits rupee 900 per month in a recurring account for 2 year . If she gets rupee 1800 as interest at the time of maturity , find the rate of interest if the interest is calculated at the end of each month.

Answer 1

Answer:

the answer will be Rs 150

Because 1800÷12

Answer 2

Answer: 8 percent per annum

Step-by-step explanation:

we have P = rs. 900

n = 24 months

SI = rs. 1800

putting these values in SI formula

SI = Pn (n+1)r/ 2400

1800 = 900 * 24* (24 +1 )  * r / 2400

⇒ r = 8