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[ICSE 2007]4. Saloni deposited 150 per month in a bank for 8 months under the recurring scheme. Find the maturity value, if the rate of interest is 8% p. a. and the interest is calculated at the end of every month.​

Answer»

Answer:

1264

Step-by-step explanation:

DEPOSITED TOTAL rupees 150*8 = 1200

P = 1200, R = 8percent T = 8mon = 8/12year

SI = prt/100 = 1200*8/12*8/100 = 64

maturity = p+si = 1200+64 = 1264



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