Mathematics

Manish opened an R.D. account in a bank and deposited ₹ 1000 per month at the interest of 10% per annum and for 2 years. The total money deposited by him is :

  1. ₹ 12,000

  2. ₹ 24,000

  3. ₹ 2,400

  4. ₹ 4,000

Banking

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Answer

Given,

Money deposited per month (P) = ₹ 1000

Time (n) = 24 months (or 2 years)

Money deposited = P × n = 1000 × 24 = ₹ 24000.

Hence, Option 2 is the correct option.

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