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Deepa has a 4-year recurring deposit account
in a bank and deposits Rs. 1,800 per month. If
she gets Rs. 1,08,450 at th

By Maria

Deepa has a 4-year recurring deposit account
in a bank and deposits Rs. 1,800 per month. If
she gets Rs. 1,08,450 at the time of maturity,
find the rate of interest.​

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Maria

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1 thought on “Deepa has a 4-year recurring deposit account<br />in a bank and deposits Rs. 1,800 per month. If<br />she gets Rs. 1,08,450 at th”

  1. Principal = 1800 per month

    time 4 year

    interest 1,08,450

    Rate= I ×100÷ Principal× time

    1,08,450×100÷1800×48

    rate = 25 %

    we do compound interest

    P(1×R÷100)t

    1800(1×25÷100) 4 years in month = 48

    1800 (125) ÷100

    1800(125÷100 continue to 48

    you will get interest 1,08,450

    Reply

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