Mr Gupta opened a recurring deposit account in a bank. He deposited Rs 2500 per month for month for two years. At the time of maturity, he got Rs 67,500. Find :(i) The total interest earned by Mr Gupta. (ii) The rate of interest per annum [4 MARKS]

Mr Gupta opened a recurring deposit account in a bank. He deposited Rs

1.	Mr Gupta opened a recurring deposit account in a bank. He deposited Rs 2500 per month for month for two years. At the time of maturity, he got Rs 67,500. Find :(i) The total interest earned by Mr Gupta. (ii) The rate of interest per annum [4 MARKS]
Answer» Mr Gupta opened a recurring deposit account in a bank. He deposited Rs 2500 per month for month for two years. At the time of maturity, he got Rs 67,500. Find :(i) The total interest earned by Mr Gupta. (ii) The rate of interest per annum [4 MARKS]