Kiran deposited ₹200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity?
Banking
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Question

Kiran deposited ₹200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity?

KnowledgeBoat · Accepted Answer

Here, P = money deposited per month = ₹200, n = number of months for which the money is deposited = 36, r = simple interest rate percent per annum = 11 Using the formula: Using the formula: The amount Kiran will get at the time of maturity = ₹8421.

Mathematics

Kiran deposited ₹200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity?

Banking

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