#### Mrs. Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value. (2009)

**Solution:**

Deposit per month (P) = Rs. 1000

Period = 3 years = 36 months

Rate = 8%

#### Kiran deposited Rs. 200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity.

**Solution:**

Amount deposited month (P) = Rs. 200

Period (n) = 36 months,

Rate (R) = 11% p.a.

Now amount deposited in 36 months = Rs. 200 x 36 = Rs 7200