This is an important question from the Book- ML Aggarwal
Board- ICSE
Publication- Avichal
Chapter- Banking
Chapter number-2
This question has been asked in 2016 paper.
Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs 1200 as interest at the time of maturity,
find: (i) the monthly instalment
(ii) the amount of maturity.
Question no.9 , ML Aggarwal, exercise 2, chapter 2, ICSE board, class10, banking.
Interest = Rs 1200
![ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q9.1](https://www.learninsta.com/wp-content/uploads/2019/04/ML-Aggarwal-Class-10-Solutions-for-ICSE-Maths-Chapter-2-Banking-Ex-2-Q9.1.png)
Period (n) = 2 years = 24 months
Rate (r) = 6% p.a.