BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Sunil has a recurring bank account of Rs. 2000 per month for a period of 4 years. What amount will he get at the time of maturity if the rate of interest is 12% S.I. p.a.?
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Rs. 1, 00, 000
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Rs. 10, 000
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Rs. 2, 19, 520
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Rs. 1, 19, 520
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Explanation:
Detailed explanation-1: -Hence Matured value =Rs. 40440.
Detailed explanation-2: -The correct option is B Mrs. Goswami deposits Rs 1000 every month in a recurring deposit account for 3 years at 8% interest per annum.
Detailed explanation-3: -₹ 83100 at the time of maturity, find the total time for which the account was held. Hence, the total time for which the account was held is 3 years.
Detailed explanation-4: -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.
There is 1 question to complete.