According to ques, Amount deposited per month (P) \[=\text{ }Rs.\text{ }600\] Rate of interest \[=\text{ }7%\text{ }p.a.\] Amount of maturity \[=\text{ }Rs.\text{ }15450\] Consider n months as the...
Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for 4 ½ years at 11% p.a. (simple interest). If he gets Rs 101418.75 at the time of maturity, find the monthly installment.
Consider Rs. x as the each monthly installment Rate of interest \[=\text{ }11%\] Period (n) \[=\text{ }4\text{ }{\scriptscriptstyle 1\!/\!{ }_2}\text{ }years\] \[=\text{ }54\text{ }months\] Since,...
Shilpa has a 4 year recurring deposit account in Bank of Maharashtra and deposits Rs. 800 per month. If she gets Rs. 48200 at the time of maturity, find (i) the rate of simple interest, (ii) the total interest earned by Shilpa
According to ques, Amount deposited per month (P) \[=\text{ }Rs.\text{ }800\] Amount of maturity \[=\text{ }Rs.\text{ }48200\] Period (n) \[=\text{ }4\text{ }years\] \[=\text{ }48\text{ }months\]...
Ankita started paying Rs. 400 per month in a 3 years recurring deposit. After six months her brother Anshul started paying Rs. 500 per month in a 2 ½ years recurring deposit. The bank paid 10% p.a. simple interest for both. At maturity who will get more money and by how much?
Case 1 – Ankita Amount deposited per month \[~=\text{ }Rs.\text{ }400\] Period (n) \[=\text{ }3\text{ }years\] \[=\text{ }36\text{ }months\] Rate of interest \[=\text{ }10%\] Since, Total principal...
Mr. Dhruv deposits Rs. 600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.
According to ques, Amount deposited by Mr. Dhruv \[=\text{ }Rs.\text{ }600\] Rate of interest \[=\text{ }10%\text{ }p.a.\] Period (n) \[=\text{ }5\text{ }years\] \[=\text{ }60\text{ }months\] Since,...
Samita has a recurring deposit account in a bank of Rs. 2000 per month at the rate of 10% p.a. If she gets Rs. 83100 at the time of maturity, find the total time for which the account was held.
Amount deposited in the account per month \[=\text{ }Rs.\text{ }2000\] Rate of interest \[=\text{ }10%\] Consider period \[=\text{ }n\text{ }months\] Since, Principal for one month \[=\text{...
Mr. R. K. Nair gets Rs. 6455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly installment.
Consider Rs. P as the monthly installment Period (x) \[=\text{ }1\text{ }year\] \[=\text{ }12\text{ }months\] Since, Total principal for one month \[=\text{ }P\text{ }\times \text{ }\left[ x\text{...
Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs. 1200 as interest at the time of maturity, find (i) the monthly installment. (ii) the amount of maturity.
Interest at the time of maturity \[=\text{ }Rs.\text{ }1200\] Period (x) \[~=\text{ }2\text{ }years\] \[=\text{ }24\text{ }months\] Rate of interest \[=\text{ }6%\text{ }p.a.\] Consider Rs. P p.m....
Rekha opened a recurring deposit account for 20 months. The rate of interest is 9% per annum and Rekha receives Rs. 441 as interest at the time of maturity. Find the amount Rekha deposited each month.
Here, The number of months Rekha deposited (n) \[=\text{ }20\] Rate of interest per annum (r) \[=\text{ }9%\] Let the amount deposited by Rekha each month be Rs. x, Then \[P\text{ }=\text{...
Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs. 800 per month for 1 ½ years. If he received Rs. 15084 at the time of maturity, find the rate of interest per annum.
Amount deposited by Shahrukh per month \[=\text{ }Rs.\text{ }800\] Since, No. of months (n) \[~=\text{ }1\text{ }{\scriptscriptstyle 1\!/\!{ }_2}\text{ }=\text{ }3/2\text{ }\times \text{ }12\]...
Mr. Gupta opened a recurring deposit account in a bank. He deposited Rs. 2500 per month for two years. At the time of maturity he got Rs. 67500. Find: (i) the total interest earned by Mr. Gupta. (ii) the rate of interest per annum.
According to ques, Amount deposited by Mr. Gupta per month \[=\text{ }Rs.\text{ }2500\] Period (x) \[=\text{ }2\text{ }years\text{ }=\text{ }24\text{ }months\] Amount got at the time of maturity...
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7725 at the time of maturity, find the rate of interest per annum.
According to ques, Amount deposited per month \[=\text{ }Rs.\text{ }300\] Period (x) \[=\text{ }2\text{ }years\] \[=\text{ }24\text{ }months\] Amount received at the time of maturity: ...
Haneef has a cumulative bank account and deposits Rs. 600 per month for a period of 4 years. If he gets Rs. 5590 as interest at the time of maturity, find the rate of interest per annum.
Interest at the time of maturity \[=\text{ }Rs.\text{ }5880\] Amount deposited by Haneef \[=\text{ }Rs.\text{ }600\] Period (x) \[=\text{ }4\text{ }years\] \[=\text{ }48\text{ }months\] Since, Total...
Kiran deposited Rs. 200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity?
According to ques, Amount deposited by Kiran \[=\text{ }Rs.\text{ }200\] Rate of interest \[=\text{ }11%\text{ }p.a.\] Period (x) \[=\text{ }36\text{ }months\] So the amount deposited in 36 months...
Sonia had a recurring deposit account in a bank and deposited Rs. 600 per month for 2 ½ years. If the rate of interest was 10% p.a., find the maturity value of this account.
According to question, Amount deposited by Sonia per month: \[=\text{ }Rs.\text{ }600\] Rate of interest (r) \[=\text{ }10%\text{ }p.a.\] Period (n) \[=\text{ }2\text{ }{\scriptscriptstyle 1\!/\!{...
Mrs. Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value.
According to ques, Amount deposited by Mrs. Goswami \[=\text{ }Rs.\text{ }1000\] Rate of interest \[=\text{ }8%\text{ }p.a.\] Period (x) \[~=\text{ }3\text{ }years\] \[=\text{ }36\text{ }months\]...