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.
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Answer:
250*9=2250
2250*6%=135
135*12=1620
maturity amount is
2250+1620=3870
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