2.
Rakesh has a recurring deposit
4 points
account in a bank for 2.5 years at 7.5%
simple interest per annum. If he gets
Rs.78975 at the time of maturity, what
is the monthly installment?
Answers
Answered by
2
Answer:
Let the deposit per month =Rs.p
Number of months (n)=36
Rate of interest (r) =7.5%p.a.
∴S.I=P×
2×12
n(n+1)
×
100
r
⇒8325=P×
2×12
36×37
×
100
7.5
⇒8325=P×
2
3×37
×
100
7.5
⇒P=
3×37×7.5
8325×2×100
=Rs.2000
(2) maturity value =P×n+S.I=Rs.(2000×36+8325)=Rs.80325
So hence this is the answer
please mark it as breaniest
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