1(xiv)
Naveen deposits ₹ 800 every month in a recurring deposit account for 6 months. If he receives ₹ 4884 at the time of maturity, then the interest he earns is :
- (a)₹ 84
- (b)₹ 42
- (c)₹ 24
- (d)₹ 284
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By formula,
Interest earned = Maturity value - Sum deposited
= ₹ 4884 - ₹ (800 × 6)
= ₹ 4884 - ₹ 4800
= ₹ 84.
Hence, Option 1 is the correct option.