Question

16. Mr Motasha opens a recurring deposit
account of 600 per month at 12% p.a. If he
is paid 7668 as maturity amount, how many
instalments does he need to pay?​

Answer 1

P×n(n+1) ×r =MV

______ ___

2×12 100

=600×n(n+1)×12 =7668

______ ___

2×12. 100

=6n(n+1)=7668×2

=6n² + 6n - 15336 = 0
=
=solve it by factorization

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