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
Mohan deposits ₹600 per month in a recurring deposit account for 3 years at 10% per annum. Find the maturity value of the account.
Original Khojo Papers practice question — not from a past board paper.
Answer
₹24,930
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
Total deposited = 600 × 36 = ₹21,600. Equivalent principal = 600 × 36 × 37/2 = ₹3,99,600, so the interest is 3,99,600 × 10/100 × 1/12 = ₹3,330. Maturity value = 21,600 + 3,330 = ₹24,930.
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