Ben and each of his 9 friends deposited ₹37 every month in a bank for 12 years. How much did they save?

₹53,250

No worries! We‘ve got your back. Try BYJU‘S free classes today!

₹53,260

No worries! We‘ve got your back. Try BYJU‘S free classes today!

₹53,280

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

₹56,280

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C ₹53,280
Total number of depositors = 10
Amount deposited every month = ₹37
Number of months in 12 years = 12 x 12 = 144
Amount saved in 12 years
= ₹(37 x 144 x 10) = ₹53,280

Suggest Corrections

Similar questions

$ 300

Neha deposited Rs. 30000 in a bank at a rate of 12% p.a for 3 years. How much interest does she get every year?

9 %

R s .24000

Join BYJU'S Learning Program