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+1 vote
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in Mathematics by (49.9k points)
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Mr. Gupta opened a recurring deposit account in a bank. He deposited Rs. 2,500 per 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.

1 Answer

+3 votes
by (48.6k points)
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Best answer

Total amount deposited = Rs (2500 x 24) = Rs 60000

Equivalent principal for one month 

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