UP TGT Mathematics commercial mathematics Test Series - Part 1
Pankaj opens a Recurring Deposit account of Rs. 600 per month for 20 months at 9% p.a. simple interest. Find the interes...
Type: MCQ • Marks: 1
Pankaj opens a Recurring Deposit account of Rs. 600 per month for 20 months at 9% p.a. simple interest. Find the interest earned at the time of maturity.
Options
A. 1) Rs. 1,045
B. 2) Rs. 945
C. 3) Rs. 845
D. 4) Rs. 1,145
Explanation
I = P * n(n+1) * R / 2400 = 600 * 20 * 21 * 9 / 2400 = 2268000 / 2400 = Rs. 945.
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