David opened a recurring deposit account in a bank & deposited Rs. 300 per month for two years. If he received Rs.7,725 at the time of maturity, find the rate of interest per annum.

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12%

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Solution

The correct option is D
7%

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David opened a Recurring Deposit Account in a bank and deposited ₹ 300 per month for two years. If he received ₹ 7,725 at the time of maturity, find the rate of interest per annum.

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David opened a recurring deposit account in a bank & deposited Rs. 300 per month for two years. If he received Rs.7,725 at the time of maturity, find the rate of interest per annum.

The correct option is D 7%

The correct option is D
7%