Question

mrs.savita khosle deposits 900 per month in a recuring account for 2 year. if she get 1800 as intrest in maturity time find the rate of intrest if intrest is calculated at the end of each month.​

Answer 1

Answer:

Interest rate is 75Rs. per month

Step-by-step explanation:

Savita deposited 900 per month for two years and got interest every month end for 2 years i.e for 24 months.

let's assume she gets XRs. interest on 900 deposited at month end.

therefore for 24 months she got 24X interest.

therefore 24X= 1800

X= 1800/24

X= 75Rs.

i.e the interest rate was 75 Rs. per month.