Calculation of Interest
Interest on Recurring deposit for the 3rd sub question is Rs. 41600/- . How is it calculated??
1 month =80k X 8/100 2month =80k X8/100 X11/12 3month =80k *8/100*10/12 . . . . . . . 11montn =80k*8/100*1/12 Do the sum of all U'll get the answer Or else in an other way using annuity factors
U can do it in a simple way using annuity factors