sajal invests ₹600 per month for 2 1/2 years in the recurring deposit scheme of oriented bank of commerence . if the bank pay simple interest at 6 2/3 %per annum , find the ammount recieved by him on maturity
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Maturity Value= Rs. 19550
Step-by-step explanation:
Total Money Deposited=600*30 mths= Rs.18000
Interest= (600*30*31*20)/3*2400
=Rs.1550
Maturity val= Money Dep+Int= Rs. 19550
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Answer:
p=600 per month
n=2. 1/2 yrs = 30 months
R=6 2/3 % per annum
find the amount received by him on maturity =?
600×30×31×20/3×2400
=1550
1550=600×2400
=19550
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