Mathematics
Mohit deposited ₹2,000 per month in a recurring deposit account on which the bank pays an interest of 10% per month. Assertion (A): The total sum deposited 1 1/2 in years = ₹36,000. Reason (R): Maturity value of this account = ₹36,000 + Interest on it. 1. A is true, R is false. 2. A is false, R is true. 3. Both A and R are true and R is the correct reason for A. 4. Both A and R are true and R is the incorrect reason for A.
Related Questions
A certain money is deposited in a recurring deposit account for 15 months, If the interest earned for this deposit is one-fifth of the monthly instalment; the rate of interest is :
6%
2%
10%
4%
Assertion (A) : In a cumulative deposit account, a man deposited ₹ 5,000 per month for 6 months and received ₹ 33,000 on maturity. The interest received by him is ₹ 3,000.
Reason (R) : Interest received in a cumulative deposit account = Maturity value - Total sum deposited
A is true, R is false.
A is false, R is true.
Both A and R are true.
Both A and R are false.