the rate of interest in monthly income scheme of a post office is 8%.p.a. how much should a man invest in this scheme to get ₹800 as monthly interest? ( ans 120000 rupees step by step explanation please)
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Answered by
1
Step-by-step explanation:
Post Office Monthly Income Scheme (MIS): An interest rate of 6. 6 per cent per annum payable monthly on Post Office Monthly Income Scheme (MIS). A Post Office Monthly Income Scheme Account (MIS) can be opened with minimum of Rs 1000.
Answered by
2
Answer:
120000
Step-by-step explanation:
interest received in a year 9600
p = (interest x100)/(time x rate)
p = (9600×100)/(1×8)
p = 960000/8
120000
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