Question

sheena had a reccuring deposit account in a bank and deposit 1600 per month for 2.5 years .if rate of intrest was 10%find maturity value of this account​

Answer 1

Answer:

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Answer 2

Installment per month(P) = Rs. 600

Number of months(n) = 20

Rate of interest (r) = 10% p.a.

The amount that Manish will get at the time of maturity

=Rs (600 x 20)+ Rs 1,050

=Rs 12,000+ Rs 1,050

= Rs 13,050 Ans.