Question

Practice Test 49
6 Mo. Bikach as R.D account in which he deposite
250 per month at 12% P. a. If he gets a 10,655
at the time of maturity. Find the time period
of the
count,
e
LCCount​

Answer 1

Answer:

In case of recurring deposits, the compounding happens on quarterly basis. Here, A is the maturity amount in Rs., the recurring deposit amount is 'P' in Rs., 'N' is the compounding frequency, interest rate R in percentage and 't' is the tenure.