Question

1. Fateh deposits a certain sum of money every month in a R.D for 2 years. If the bank pays
interest at 10% p.a and Fateh receives Rs 66250 as the maturity value of the account, what
sum of money did he pay every month?​

Answer 1

I thing answer is 10,000

Answer 2

According the question :-

n = 2 ×12 = 24

R = 10%

MV = Rs 66250

Principal = P

Interest = I= P ×[ n ( n+1) ÷ 2×12]× 10/100

                   = P × [ 24 ( 24 +1)] ÷ 24×1/10

                   =P × [(24 ×25)÷24] ×1/10

                   = P × 25/10 = 5P/2

MV = P ×n +I =  P× 24 + 5P/2

66250 =( 48P + 5P)÷2

53P = 66250 ×2

∴P =( 66250 ×2)÷ 53= 2500

Hence the principal will be Rs2500, and he has to pay this amount every month.

Ans :- Fateh has to pay Rs2500 per month.

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