How much amount I have to invest in bank FD with 5.50 % interest so that per month i should earn at least 40,000 ?
Answer (1)
5th Feb, 2021
Hello candidate,
Fixed deposit is the amount which the investor deposits in his bank account for a longer period of time to get interest rate over the principal amount for a continuous amount of time.
Here, you get a 5.5% Intrest rate and get interest upto 40,000 per month, so the Principal Amount for 1 year is equal to 40000*100/5.5= Rs727272.72.
Hope it helps!!
Have a good day.
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