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UP TGT Mathematics commercial mathematics Test Series - Part 1

Katrina has a Recurring Deposit account of Rs. 1,600 per month for 3 years (36 months) at 9% p.a. Calculate the total ma...

Type: MCQ • Marks: 1
Katrina has a Recurring Deposit account of Rs. 1,600 per month for 3 years (36 months) at 9% p.a. Calculate the total maturity value she receives.
Options
A. 1) Rs. 65,592
B. 2) Rs. 67,200
C. 3) Rs. 63,456
D. 4) Rs. 68,400
Explanation
Total Principal = 1600 * 36 = Rs. 57,600. Interest I = 1600 * 36 * 37 * 9 / 2400 = 1918080 / 24 = Rs. 7,992. Maturity Value = 57600 + 7992 = Rs. 65,592.
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