Question

Rajesh deposits Rs 300 per month in a Recurring Deposit Account for 2 years.
Ir the rate of interest is 10% per year: calculate the amount that Rajesh will receive
at the end of 2 years ie at the time of maturity.​

Answer 1

Principle = 1440 Amount = si +p =8640

Answer 2

Answer:

P=300

n=24

r=10

$MV=nP+\frac{n(n+1)Pr}{2400} \\=7200+\frac{24*25*300*10}{2400} \\=7200+750\\=7950$

The maturity value is Rs. 7950