Mathematics
Jena has a cumulative deposit account in Indian Bank. She deposit ₹ 500 per month for 2 years. Bank pays interest at the rate of 6% p.a.
Assertion (A): Money received by Jena at maturity is ₹ 12,750.
Reason (R): Maturity value = money deposit + interest.
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct reason for Assertion (A).
Both Assertion (A) and Reason (R) are correct, and Reason (R) is incorrect reason for Assertion (A).
Related Questions
Radha deposited ₹ 400 per month in a recurring deposit account for 18 months. The qualifying sum of money for the calculation of interest is :
₹ 3600
₹ 7200
₹ 68,400
₹ 1,36,800
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.