Mathematics
Assertion (A): Pawandeep opened a recurring deposit account in a bank for a period of 2 years. If the bank pays interest at the rate of 6% p.a. and the monthly instalment is ₹1,000, then the maturity amount is ₹25,000. Reason (R): For a recurring deposit account, we compute the interest using the following formula: 1. A is true, R is false 2. A is false, R is true 3. Both A and R are true 4. Both A and R are false.
Related Questions
Joseph has a recurring deposit account in a bank for two years at the rate of 8\% per annum simple interest.
The total amount deposited in the bank is:
₹25,000
₹24,000
₹26,000
₹23,000
Joseph has a recurring deposit account in a bank for two years at the rate of 8\% per annum simple interest.
The amount Joseph receives on maturity is:
₹27,000
₹25,000
₹26,000
₹28,000
Joseph has a recurring deposit account in a bank for two years at the rate of 8\% per annum simple interest.
If the monthly instalment is ₹100 and the rate of interest is 8\%, in how many months Joseph will receive ₹52 as interest?
18
30
12
6