Shakshi has a cumulative deposit account in a post office. She deposits ₹500 per month for a period of 4 years. If at the time of maturity she gets ₹28410, find the rate of interest paid by the post office.
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answer is 9 %
as principal amount is 500 abd time is four years that means 12 ×4 which is equal to 48
mv=p×n+p×n (n+1)*r/2×12×100
therefore by substituting the value of r is 9%
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