Renu deposited Rs. 150 per month in her bank for 8 months under the recurring deposit scheme. What will be the maturity value of her deposit, if the rate of interest is 8% p.a. and the interest is calculated at the end of every month.

BANKING GENERAL KNOWLEDGE

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

A	Rs. 1200
B	Rs. 1000
C	Rs. 1136
D	Rs. 1236

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.

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