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CBSE Class 12-commerce Answered

A certain scheme of a bank offers an annuity of rupees 1800 for 10 years if invest rupees 12000. What will be the rate of interest
Asked by rj21071997 | 02 May, 2022, 03:49: PM
answered-by-expert Expert Answer
Total money paid by an individual = Rs. 12000
Annuity paid by the bank = Rs 1800 
Total amount to be paid by the bank = 1800 x 10 = Rs. 18000
Intereset received = 18000 - 12000 = Rs. 6000
Rate of interest = 50%
Answered by Renu Varma | 04 May, 2022, 11:34: AM

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