Question

virat has a recurring deposit account in a bank for 3 years at 8% p.a simple interest. If ye gets ₹8088 at the time of maturity, find the monthly installment​

Answer 1

Answer:

N= 3 yrs.

R=8%

M.v = rs.8088

Principle= ?

I= p*r*t/100*2*12

I= p*8*3/100*2*12

I=p/100 ( on solving we gets)

Mv=p*n+I

8088=p*3+p/100

8088=3p+p/100

8088=301p/100

On solving we gets,

8088*100/301 =p

2687.04=p

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Hope it helps you

Step-by-step explanation: