20 fisherwomen have made their own bank. Each saves ₹25 each month and puts it in the bank. How much money will be collected in 10 years?

₹50000

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₹60000

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₹70000

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₹75000

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Solution

The correct option is B ₹60000
Total number of fisherwomen = 20
Money saved by each fisherwoman each month = ₹25
Money saved by all the fisherwomen each month = ₹25 × 20
= ₹500
Money saved by all the fisherwomen each year = ₹500 × 12
= ₹6000
Money saved by all the fisherwomen in 10 years = ₹6000 × 10
= ₹60000

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