Question

sunita deposit rs 500 in the beginning of the every month into a r.d. account and get rs67400as the maturity value find the rate of the interest paid by the bank​

Answer 1

Answer:

MV = P *(n+I)

67400=500*12+I

67400=60000+I

67400-60000=I

I=7400

now use the interest formula and find the rate of interest

using I=7400

I hope it was useful

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