1(ii)
Mr. Anuj deposits ₹500 per month for 18 months in a recurring deposit account at a certain rate. If he earns ₹570 as interest at the time of maturity, then his matured amount is:
- (a)₹(500 x 18 + 570)
- (b)₹(500 x 19 + 570)
- (c)₹(500 x 18 x 19 + 570)
- (d)₹(500 x 9 x 19 + 570)
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Given,
Monthly deposit = ₹500
Number of months = 18
Interest earned = ₹570
By formula,
Matured amount = Total deposit + Interest
= Monthly deposit x number of months + Interest
= ₹(500 x 18 + 570)
Hence, option 1 is the correct option.