Mathematics
Ankita started paying ₹400 per month in a 3 years recurring deposit. After six months her brother Anshul started paying ₹500 per month in a 2½ years recurring deposit. The bank paid 10% p.a. simple interest for both. At maturity who will get more money and by how much?
Related Questions
Dhruv deposits ₹600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.
Salman deposits ₹ 1,000 every month in a recurring deposit account for 2 years. If he receives ₹ 26,000 on maturity, find :
(a) total interest Salman earns
(b) the rate of interest.
Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for 4½ years at 11% p.a. (simple interest). If he gets ₹101418.75 at the time of maturity, find the monthly installment.