MCQEasy1 mark
25
Select the correct option for each of the following questions. Joseph has a recurring deposit account in a bank for two years at the rate of 8%per annum simple interest.
The total amount deposited in the bank
Topic: Recurring deposit / interest
Previous-year question practice database
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Pick an option and check your answer. The full worked answer is below either way.
Answer
Exam answer
(b) ₹24,000
Explanation
₹1,000 per month for 24 months = ₹24,000.
In words
₹24,000
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