Question

Saloni deposited 150 per month in a bank for 8 months under the Recurring Deposit Scheme. What will be the maturity value of his deposits, if the rate of interest per annum?

from Ch:- Banking
use SI=
$\frac{P*(n+1)n}{2 \times 12} \times \frac{r}{100}$
​

Answer 1

Answer:

1264

Step-by-step explanation:

deposited total rupees 150*8 = 1200

P = 1200, R = 8percent T = 8mon = 8/12year

SI = prt/100 = 1200*8/12*8/100 = 64

maturity = p+si = 1200+64 = 1264

l hope it will be help you my best friend