Enza deposits Rs 500 every month for 1 year in a recurring account of a bank and the bank pays Rs 6260 at end of one year. What is the rate of interest?

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10%

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Solution

The correct option is A
8%

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Enza deposits Rs 500 every month for 1 year in a recurring account of a bank and the bank pays Rs 6260 at end of one year. What is the rate of interest?

The correct option is A 8%

The correct option is A
8%