Q2 of 94 Page 37

Deva makes a fixed deposit of Rs. 75,000 in a bank for 3 years. If the rate of interest is 5% per annum, find the maturity value.

Total deposit (p) = 75,000

No. of years (N) = 3 years


Rate of interest (R) = 5% per annum


Interest = p× N ×


= 75,000 × 3 ×


= 11,250


Maturity value = Total deposit + Interest


= 75,000 + 11,250


= 86,250


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