Rajiv has a recurring deposit account in a bank of rs 600 per month. If the bank pays interest of 7% and he gets 15450 at maturity, find the total time
Answers
Answered by
3
Answer:
One year
Explanation:
when we find the amount during maturity we use
- 600 ✖ 7% ✖ number of months =15450
- 42 ✖ number of months = 15450
- number of months = 15450 ➗ 42
- number of months = 365 days
- 12 months = 365 days = 1 year
Similar questions