From the question it is given that,
Mr. Mohan has a cumulative deposit account for 3 years.
Period = years
We know that, year = Months
So, 3 years Months
Rate = pa
Maturity amount =
Then, Money deposited = Monthly value × Number of Month.
So, total principal for 1 month
Now, interest =
Mr. Mohan has a cumulative deposit account for years at interest pa. She receives Rs as a maturity amount after years. (a) Find the monthly deposit.(b) Find the total interest receivable after maturity