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, the rate of interest is
( 2007
per annum?
​

Answer 1

Answer:

1264

Step-by-step explanation:

Given

P=Rs 150 per month.

r=8% p.a

n=8 month

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