Pramod deposits 600 per month in a recurring deposit account for 4 years . if the rate of interest is 8%per year , calculate the maturity value of his account
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Answered by
16
Answer:
The Amount that Promot gets as a maturity value of his acc is Rs 33,504
Step-by-step explanation:
Given,
P=Rs 600
T=4years
=48 months
R=8% p.a
Therefore , S.I = P ×n(n+1)/2×12×r/100
=600×48(48+1)/2×12×8/100 =600×2352/24×8/100
=4704 Ruppes
The amount that Pramod gets at the time of maturity will be
={(600×48)+4704} Ruppes
=(28,800+4704)Rupees
=33,504 Ruppes
Answered by
0
Answer:
33,504
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