If a person deposits Rs. 1,500 per month in an RD account for 2 years (24 months) and gets Rs. 3,750 as interest, calcul...

Type: MCQ • Marks: 1

If a person deposits Rs. 1,500 per month in an RD account for 2 years (24 months) and gets Rs. 3,750 as interest, calculate the rate of interest p.a.

A. 1) 9%

B. 2) 10%

C. 3) 12%

D. 4) 8%

Explanation

3750 = 1500 * 24 * 25 * R / 2400 => 3750 = 375 R => R = 10% p.a.

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UP TGT Mathematics

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