Question

Renu has a cumulative deposit account in a bank for 3 years at 7.5%p.a. simple interest.
If she gets Rs 80,325 as maturity value, find the monthly instalment.​

Answer 1

Answer:

Apply the formula of simple imterest

Step-by-step explanation:

A=P(1+RT/100)

Amount of maturity value =80325

Rate of interest ,R=7.5

Time =3 years

So,Principle,P=?

SOLUTION:

80325=P(1+7.5×3)

Solve this to get the answer