BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Anuj deposited Rs.80 per month in a recurring deposit account for 1 year at the rate of 10% p.a. Find the amount he will get on maturity.
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Rs. 1000
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Rs. 1012
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Rs. 2012
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Rs. 2000
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Explanation:
Detailed explanation-1: -Rs. 150 for 8 months is 150×8=1200. Therefore, the maturity value Amit will have at the end of 8 months is Rs. 1236.
Detailed explanation-2: -A Recurring Deposit Account of Rs 1, 200 per Month Has a Maturity Value of Rs 12, 440. If the Rate of Interest is 8% and the Interest is Calculated-Mathematics. A recurring deposit account of Rs 1, 200 per month has a maturity value of Rs 12, 440.
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