Same chapter2 marksDifficulty: Easy
State two differences between a recurring deposit account and a savings bank account.
Banking
2 marksDifficulty: Easy
Anita deposits ₹800 per month in a recurring deposit account for 18 months at 8% per annum. Find the interest she earns.
Original Khojo Papers practice question — not from a past board paper.
Answer
₹912
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
I = P × n(n+1)/(2×12) × r/100 = 800 × (18×19)/24 × 8/100 = 800 × 14.25 × 0.08 = ₹912.
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