Muskan deposits Rs. 1000 per month in a recurring deposit account for 3 years. At the time of maturity, she gets Rs. 40, 440. Find the rate of interest p.a.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	8%
B	9%
C	10%
D	10.2%

Explanation:

Detailed explanation-1: -Answer: The matured value after 3 years of deposit is Rs 40440 .

Detailed explanation-2: -Hence Matured value =Rs. 40440.

Detailed explanation-3: -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.

There is 1 question to complete.