ICSE Class 10 Answered
Ms sarita deposit RS 500 every month in a recurring deposit account for 2 years at 9% S.l per annum find. the interest she will earm in 2 years,the maturity value of deposit
Asked by sh489551 | 20 Sep, 2021, 02:58: AM
Recurring deposit Interest I is given as

where P is principle amount deposited every month, n is number of months and
R is rate of interest per annum .

Interest received = Rs. 1125
Maturity amount = ( 500 × 24 + 1125 ) = Rs. 13125
Answered by Thiyagarajan K | 20 Sep, 2021, 07:36: AM
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