Question

Sonia had a recurring deposit
account in a bank and
deposited Rs. 600 per month
for 2 and 1/2 years. If the rate
of interest was 11% p.a., find
the maturity value of this
account. *​

Answer 1

Answer:

hi

here is ur ans

Explanation:

given:

p=Rs.600

r=10%

n=5/2years =30months

mv=p*n+p*n(n+1)/2*12*r/100

mv=600*30+600*30(30+1)/2*12*10/100

mv=18000+18000*31/24*10

mv=18000+2325

mv=Rs.20325