MCQEasy1 mark
1
Choose the correct answers to the questions from the given options. (Do not copy the questions, write the correct answers only.)
A and B opened a recurring deposit account in a bank which is paying simple interest at 9% per annum. A deposited ₹ 1,500 for one year and B deposited ₹ 1,200 for 15 months. The amount invested by :
Topic: Recurring deposit / interest
Previous-year question practice database
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Answer
Exam answer
(d) Both invest ₹18,000.
Explanation
A:1500×12=18000; B:1200×15=18000.
In words
Both invest ₹18,000.
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