(a) Manu has a 5 years recurring deposit account and deposits Rs. 240 – InterviewSolution

1.	(a) Manu has a 5 years recurring deposit account and deposits Rs. 240 per month. If he13]receives Rs. 17,694 at the time of maturity, find the rate of interest.
Answer» Here if r % be the rate of interestMaturity value=(24060)+(240+6061r/212*100)17694=14400+366r366r=3294r=9%

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