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How to calculate recurring deposite
In Fixed Deposits  -  Asked by shridhar -  7 years ago
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Answer 1.
hey we could find out by the below mentioned formula also:

The interest on recurring deposit may be calculated as :

Let the amount deposited per month =Rs 1000/-

Cumulative sum of the amount for 12 months=Rs.12000/

Rate of interest = d
time = 12 months
1000*d*13
recurring interest = ----------------------------------------...
2400

or the general formula

(n+1 ) * Amount / month * %rate
= ----------------------------------------... 2400
7 years ago - By Vikram
Answer 2.
Hi, it's really simple to calculate the interest rate of recurring deposit. I just give you an example which would help you to understand more clearly:

Time=2 yrs=24 months
[abbreviations used=
MI=monthly income,
MA=matuarity amount
R=rate
p=premium]
1st p for Rs 10000 for 24 months=10000 x24 for 1 month
2nd p for Rs 10000 for 23 months=10000 x 23 for 1 month
|
|
|
|
|
|
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Last premium for 10000 for 1 month=10000 x 1
_______
total=10000(24+23+_ _ +1)
=10000 x 24(24 +1)/2
=10000x 24x25/2
=3000000
interest=3000000 x 1/12 x 12/100
=30000
MA=(10000 x 24) + 30000
=270000


formula used=n(n+1)/2.............where n is the no of months.
7 years ago - By Parveen Rao
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