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Question
Devanand deposited ₹ 2,000 per month in a recurring deposit account on which the bank pays an interest of 10% per month.
Assertion (A): The total sum deposited in `1 1/2` years = ₹ 36,000
Reason (R): Maturity value of this account = 36,000 + Interest on it.
Options
A is true, R is false.
A is false, R is true.
Both A and R are true and R is the correct reason for А.
Both A and R are true and R is the incorrect reason for A.
MCQ
Assertion and Reasoning
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Solution
Both A and R are true and R is the incorrect reason for A.
Explanation:
1½ years = 18 months
Total deposit = ₹ 2,000 × 18 = ₹ 36,000
Maturity value = Total amount deposited + Interest
= ₹ 36,000 + Interest
However, R does not explain A. It only gives the formula for finding the maturity value.
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