5. David opened a Recurring Deposit Account in a bank and deposited 3300 per month
for two years. If he received 37725 at the

5. David opened a Recurring Deposit Account in a bank and deposited 3300 per month
for two years. If he received 37725 at the time of maturity, find the rate of interest per annum.​

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Everleigh

1 thought on “5. David opened a Recurring Deposit Account in a bank and deposited 3300 per month<br />for two years. If he received 37725 at the”

  1. Answer:

    I= PNR/100

    for two years principal will be 3300×24=79200

    Interest =37725

    principal=79200

    time= 2years

    37725×100\79200×2

    23•82%

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