Mathematics
In a recurring deposit (R.D.):
a person gets the same interest every month
a person gets the same maturity amount every year
a person deposits the same amount every month
the government deposits an amount equal to the interest every year.
Related Questions
Mr. Anil has a recurring deposit account. He deposits a certain amount of money per month for 2 years. If he received an interest whose value is the double of the deposit made per month, then find the rate of interest.
A recurring deposit is also known as:
maturity deposit
cumulative time deposit
regular saving deposit
investment fund deposit
₹ P is deposited for n number of months in a recurring deposit account which pays interest at the rate of r% per annum. The nature and time of interest calculated is :
compound interest for n number of months
simple interest for n number of months
compound interest for one month
simple interest for one month