Mathematics

Naveen deposits ₹ 800 every month in a recurring deposit account for 6 months. If he receives ₹ 4884 at the time of maturity, then the interest he earns is :

  1. ₹ 84

  2. ₹ 42

  3. ₹ 24

  4. ₹ 284

Banking

ICSE 2023

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Answer

By formula,

Interest earned = Maturity value - Sum deposited

= ₹ 4884 - ₹ (800 × 6)

= ₹ 4884 - ₹ 4800

= ₹ 84.

Hence, Option 1 is the correct option.

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