In an R.D., the maturity value is the sum of the total amount deposited and the interest. If P is the amount deposited every month for n months and R is the rate of interest, then interest I is equal to:

1. $P \times \dfrac{n}{12} \times \dfrac{R}{100}$

2. $P \times \dfrac{n(n - 1)}{12} \times \dfrac{R}{100}$

3. $P \times \dfrac{n(n + 1)}{2 \times 12} \times \dfrac{R}{100}$

4. $P \times \dfrac{n}{2 \times 12} \times \dfrac{R}{100}$

Mohit opened a Recurring deposit account in a bank for 2 years. He deposits ₹1,000 every month and receives ₹25,500 on maturity. The interest he earned in 2 years is:

1. ₹13,500

2. ₹3,000

3. ₹24,000

4. ₹1500

Joseph has a recurring deposit account in a bank for two years at the rate of 8% per annum simple interest.

If at the time of maturity Joseph receives ₹2,000 as interest, then the monthly instalment is:

1. ₹1,200

2. ₹600

3. ₹1,000

4. ₹1,600

Joseph has a recurring deposit account in a bank for two years at the rate of 8\% per annum simple interest.

The total amount deposited in the bank is:

1. ₹25,000

2. ₹24,000

3. ₹26,000

4. ₹23,000