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If Mr. Nirav deposits 250rs at the begin...

If Mr. Nirav deposits `250rs` at the beginning of each month in an account that pays an interest of `6%` per annum compounded monthly, how many months will be required for the deposit to amount to at least `6390rs` ?

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Ramesh deposited Rs 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he receives after 9 months?

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Knowledge Check

  • Krishna deposited Rs 2,000 per month in a recurring bank account for 2 years at the rate of 11% per annum interest. The amount Krishna will get at the time of maturity is:

    A
    Rs 47,632
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    Rs 50,500
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  • Mr. Nair get Rs.6,455 at the end of one year at the rate of 14% per annum in a recurring deposit amount. The monthly instalment is:

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    B
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    C
    Rs.600
    D
    Rs.700
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