Arush has a recurring time deposit account in a Bank. He deposits Rs 500 per month for a period of 4 years. If at the time of maturity he gets Rs 28410. Find the rate of interest.

r = 9%

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r = 10%

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r = 13%

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r = 7%

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Solution

The correct option is A
r = 9%

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Arush has a recurring time deposit account in a Bank. He deposits Rs 500 per month for a period of 4 years. If at the time of maturity he gets Rs 28410. Find the rate of interest.

The correct option is A r = 9%

The correct option is A
r = 9%