Question

Shashi deposits rs 200 p m in a cummulative deposit account for 5 yrs find the amount payable to him on the maturity if the rate of interest is 8%pa

Answer 1

Step-by-step explanation:

p=200, r=8%,t=5yrs ( 12*5=60month)

A=P*n+P*n(n+1)r/2400

200*60+200*60(60+1)8/2400

12000+12000*61*8/24000

12000+12000*488/2400

12000+5856000/2400

12000+2440

14440 rupees

Answer 2

Answer:

P = ₹200

R = 8%p.a.

T = 5 YEARS

A = P ( 1 + R/100 )ⁿ

= ₹293.86 .

CI = ₹ ( 293.86 - 200 )

= ₹93.86 .

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