Question

Ms jagwani invests RS 500 every month in a recurring deposit scheme for 3 years at a simple interest rate 8%p.a a. find the total interest she will earn at the end of the period b. find the maturity value of the deposits​

Answer 1

Answer:

Principal investment =500×3×12=18000/−

Simple interest=

100

P×r×t

2220=

100

18000×r×3

r=4.11%

Maturity value of interest =Principle +interest=18000+2220=Rs.20220

Step-by-step explanation:

I hope it helps you, vote this anwer, like it.

Answer 2

Answer:

Interest = 2220

Maturity Value = 20220

Step-by-step explanation:

I = P × n(n+1)/2 × 1/12 × R/100

I = 500 × 36(36+1)/2 × 1/12 × 8/100

I = 5×3×37×4

I = 2220

M.V. = (P × n) + I

M.V. = (500 × 36) + 2220

M.V. = 18000 + 2220

M.V. = 20220