Mathematics · Recurring Deposit Maturity Calculation
Calculate the maturity value of a Recurring Deposit (RD) where a customer deposits ₹10,000 per month for 12 months at an interest rate of 7% per annum. Use the standard formula I = P × n(n + 1) × r2 × 12 × 100 to calculate interest.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,23,500
- 2₹1,27,000
- 3₹1,20,000
- 4₹1,24,550✓
Correct answer
₹1,24,550
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