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Question
In a recurring deposit (R.D.):
Options
a person gets the same interest every month
a person gets the same maturity amount every year
a person deposits the same amount every month
the government deposits an amount equal to the interest every year
MCQ
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Solution
A person deposits the same amount every month
Explanation:
A recurring deposit (R.D.) is a scheme where the depositor pays a fixed specified amount each month for a chosen period; the maturity value is the total of those monthly instalments plus interest.
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