Same chapter4 marksDifficulty: Hard
A man deposits ₹500 per month in a recurring deposit account for 4 years and receives ₹28,410 on maturity. Find the rate of interest.
Banking
4 marksDifficulty: Hard
Priya opened a recurring deposit account for 30 months at 10% per annum and received ₹27,100 on maturity. Find her monthly instalment.
Original Khojo Papers practice question — not from a past board paper.
Answer
₹800
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
If the instalment is P then she deposits 30P and earns interest P × 30 × 31/2 × 10/1200 = 3.875P, so the maturity value is 33.875P. Hence P = 27,100 ÷ 33.875 = ₹800.
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