Question

Sheela opened a recurring deposit account in a bank and deposited Rs200 per month for 3 years at 13% per
annum interest. Find the maturity value

Answer 1

Answer:

interest = p× n×( n+1) × R

2400

= 200×36×37×11

2400

=1221

∴ Amount =200×36+1221= Rs. 8421

hope this helps you