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Amit deposited Rs. 150 per month in a bank for 8 months under the Recurring deposit scheme,

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Amit deposited Rs. 150 per month in a bank for 8 months under the Recurring deposit scheme, What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest is calculated at the end of every month?

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The amount that Manish will get at the time of maturity

= Rs (150 × 8) + Rs. 36

= Rs. 1,200 + Rs. 36

= Rs. 1,236 Ans

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