Simple Interest
The recurring deposit of Rs.50 for 24 months is equivalent to investing Rs.50 for (24 + 23+22+...+2+1) months, i.e., 300 months = 25 years. Then, amount = Rs.50 x 24 +Rs.50x25x6/100 = Rs.1,200 + Rs.75, i.e., 1275
Related MCQ Simple Interest
MOCK TEST SERIES