Question

Sandhya deposited Rs. 250 per month in a bank for 9 months under the recurring deposit scheme. What will be the maturity value of his deposit if the rate of interest is 6% per annum and the interest is calculated at the end of every month.​

Answer 1

Answer:

250*9=2250

2250*6%=135

135*12=1620

maturity amount is

2250+1620=3870