Question1.
a) Rishi has a cumulative deposit account in Bank of Baroda. He deposits Rs. 200 per month for a
period of 3 years. If at the time of maturity he gets Rs. 8088, find the rate of (simple) interest.
Answers
Answered by
2
Answer:
RATE=4%
Step-by-step explanation:
He deposits = Rs. 200 for 3 years
Total deposit = Rs. 200×36= Rs. 7200
Principal = 7200
Amount = Rs. 8088
Simple Interest = Amount-principal
= 8088-7200
= Rs. 888
To find rate of interest
S. I. = P×R×T÷100
• 888= 7200×R×3÷100
• 888= 72×R×3
• 888= 216×R
• 888÷216=R
• 4% = R
Answered by
0
Answer:
Step-by-step explanation:
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