Mathematics
A person deposit ₹P, every month for n months at R percent per annum, simple interest in a recurring deposit account. Assertion (A): The maturity value is more than total amount deposited by the person. Reason (R): Maturity value includes an interest equal to 1. Assertion (A) is true, but Reason (R) is false. 2. Assertion (A) is false, but Reason (R) is true. 3. Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct reason for Assertion (A). 4. Both Assertion (A) and Reason (R) are correct, and Reason (R) is incorrect reason for Assertion (A).
Related Questions
Mr. Sharma deposited ₹500 every month in a cumulative deposit account for 2 years. If the bank pays interest at the rate of 7% per annum, then the amount he gets on maturity is
- ₹875
- ₹6875
- ₹10875
- ₹12875
Radha deposited ₹ 400 per month in a recurring deposit account for 18 months. The qualifying sum of money for the calculation of interest is :
₹ 3600
₹ 7200
₹ 68,400
₹ 1,36,800
Jena has a cumulative deposit account in Indian Bank. She deposit ₹ 500 per month for 2 years. Bank pays interest at the rate of 6% p.a.
Assertion (A): Money received by Jena at maturity is ₹ 12,750.
Reason (R): Maturity value = money deposit + interest.
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct reason for Assertion (A).
Both Assertion (A) and Reason (R) are correct, and Reason (R) is incorrect reason for Assertion (A).