Question

Naseem has a 5 years Recurring Deposit account in Punjab National Bank and deposit? Rs. 240 per month. If she receives Rs. 17,694 at the time of maturity find the rate of interest.

Answer 1

$\huge\bold{Question :}$

Naseem has a 5 years Recurring Deposit account in Punjab National Bank and deposit? Rs. 240 per month. If she receives Rs. 17,694 at the time of maturity find the rate of interest.

$\huge\bold{Answer :}$

♠Here if the r% be the rate of interest then,

$\sf \blue {→Maturity\:value:}$

= ₹ (240 × 60) + ₹ (240 × 60 × 61/2 × 12 × r/100)

→ 17694 = 14400 + 366r

→ 366r = 3294

→ r = 9%.

$\sf \bold\red {Hope\:It\:Helps\:!!}$

Answer 2

Answer:

hii sagar just wanted to ask you that who is itscutiepie01