Mathematics
Mr. Richard has a recurring deposit account in a bank for 3 years at 7.5% per annum simple interest. If he gets ₹8,325 as interest at the time of maturity, find:
(i) The monthly deposit,
(ii) The maturity value.
Related Questions
Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years, If the bank pays interest at 6% per annum and the monthly installment is ₹1,000 find:
(i) interest earned in 2 years,
(ii) matured value .
Ahmed has a recurring deposit account in a bank. He deposits ₹2,500 per month for 2 years. If he gets ₹66,250 at the time of maturity, find:
(i) the interest paid by the bank
(ii) the rate of interest.