Question

Ramesh opened a recurring deposit account in a bank for 5 year and deposited rupees 200 every month if the rate of interest is 6% per annum then how much money will he get after 5 years?​

Answer 1

Answer:

12720

Step-by-step explanation:

at first ₹200 per month =200 *12 ... and this recurring ac is for 5 years so =200*12*5 = 12000

.....Then come to interest . interest is for 5 years . 6% per annum = 6%*12*200 and for 5years so

= 6%*12*200*5 = 720 ..final calculation

= 200 *12*5+200*12*6%*5 = 12720

Answer 2

Step-by-step explanation:

Step-by-step explanation:

at first ₹200 per month =200 *12 ... and this recurring ac is for 5 years so =200*12*5 = 12000

Then come to interest . interest is for 5 years . 6% per annum = 6%*12*200 and for 5years so

= 6%*12*200*5 = 720 ..final calculation

= 200 *12*5+200*12*6%*5 = 12720