Same chapter3 marksDifficulty: Medium
Find the number of months for which ₹2,000 must be deposited each month at 7% per annum for the interest to be ₹910.
Banking
4 marksDifficulty: Medium
Sameer deposits ₹1,200 per month for 20 months at 6% per annum. Find the interest earned.
Original Khojo Papers practice question — not from a past board paper.
Answer
₹1,260
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
Equivalent principal = 1,200 × 20 × 21/2 = ₹2,52,000, so the interest is 2,52,000 × 6/100 × 1/12 = ₹1,260.
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