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Mathematics

In a recurring deposit, the maturity value is given by:

  1. (P×n)+I(P \times n) + I

  2. P×n×IP \times n \times I

  3. P×n×I100\dfrac{P \times n \times I}{100}

  4. (P×n)+I100\dfrac{(P \times n) + I}{100}

Banking

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Answer

Maturity value = Sum deposited + Interest

Sum deposited = P × n

Maturity value = P × n + Interest

Hence, Option 1 is the correct option.

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