Q1 of 94 Page 37

Ponmani makes a fixed deposit of Rs. 25,000 in a bank for 2 years. If the rate of interest is 4% per annum, find the maturity value.

Total deposit (p) = 25,000

No. of years (N) = 2 years


Rate of interest (R) = 4% per annum


Interest = p× N ×


= 25,000 × 2 ×


= 2,000


Maturity value = Total deposit + Interest


= 25,000 + 2,000


= 27,000


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