Sonya deposited Rs. $200$ per month in her bank for six months under the recurring deposit scheme. What will be the maturity value of her deposit, if the rate of interest is $7 %$ per annum and the interest is calculated at the end of every month?

1936

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24936

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3936

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4936

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Solution

The correct option is C $4936$
Given, $P =$ Rs. $200$ , $n = 6$ months, $r = 7 %$
Interest $=$ $\frac{P n (n + 1) r}{2400}$
$= \frac{200 \times 6 (6 + 1) 7}{100}$
$= 24.5$
Maturity value $= 200 \times 24.5 + 36 =$ Rs. $4936$

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Sonya deposited Rs. 200 per month in her bank for six months under the recurring deposit scheme. What will be the maturity value of her deposit, if the rate of interest is 7% per annum and the interest is calculated at the end of every month?

The correct option is C 4936Given, P= Rs. 200, n=6 months, r=7%Interest = Pn(n+1)r2400=200×6(6+1)7100=24.5Maturity value =200×24.5+36= Rs. 4936

Sonya deposited Rs. $200$ per month in her bank for six months under the recurring deposit scheme. What will be the maturity value of her deposit, if the rate of interest is $7 %$ per annum and the interest is calculated at the end of every month?

The correct option is C $4936$
Given, $P =$ Rs. $200$ , $n = 6$ months, $r = 7 %$
Interest $=$ $\frac{P n (n + 1) r}{2400}$
$= \frac{200 \times 6 (6 + 1) 7}{100}$
$= 24.5$
Maturity value $= 200 \times 24.5 + 36 =$ Rs. $4936$