Mathematics
Sajal invests ₹600 per month for 2(1/2) years in a recurring deposit scheme of Oriental Bank of Commerce. If the bank pays simple interest at 6(2/3)% per annum, find the amount received by him on maturity.
Related Questions
Inderjeet opened a cumulative time deposit account with Punjab National Bank. He deposited ₹360 per month for 2 years. If the rate of interest be 7% per annum, how much did he get at the time of maturity?
Mr. Richard has a recurring deposit account in a bank for 3 years at 7.5% per annum simple interest. If he gets ₹8,325 as interest at the time of maturity, find:
(i) The monthly deposit,
(ii) The maturity value.
Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years, If the bank pays interest at 6% per annum and the monthly installment is ₹1,000 find:
(i) interest earned in 2 years,
(ii) matured value .