Richa deposits Rs. 1,200 every month in a bank for 1.5 years (18 months) at 10% p.a. Find the maturity value of her RD a...

Type: MCQ • Marks: 1

Richa deposits Rs. 1,200 every month in a bank for 1.5 years (18 months) at 10% p.a. Find the maturity value of her RD account.

A. 1) Rs. 23,115

B. 2) Rs. 23,055

C. 3) Rs. 23,500

D. 4) Rs. 23,310

Explanation

Principal = 1200 * 18 = Rs. 21,600. Interest I = 1200 * 18 * 19 * 10 / 2400 = Rs. 1,710. Maturity Value = 21600 + 1710 = Rs. 23,310.

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UP TGT Mathematics

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