Question

Mr. Deepak Rs. $300$ per month and deposits in a bank in a recurring deposit account for $2$ years. What will he got on maturity? (Maturity value of recurring deposit accounts of monthly instalment of Rs. $10$)

• A. Rs. $1996.57$
• B. Rs. $2996.57$
• C. Rs. $3996.57$
• D. Rs. $4996.57$

Answer 1

The correct option is C Rs. $3996.57$

From the tabl,e the maturity value of Rs. $10$ deposit per month for $24$ months $133.219$.
The maturity value of Rs. $300=10\times 30$ for $24$ months
$=133.219\times 30=3996.57$
$=$ Rs. $3996.57$$