Question

3.(a) Mr. Ram has a R.D Account of Rs. 250 per month for period of 1
year the rate of 10% p.a. Find the Maturity value.
​

Answer 1

Mr Mohan has a cumulative deposit account for 3 years at 7 % interest pa. She receives Rs.8,547 as a maturity amount after 3 years. Find the monthly deposit.

Answer 2

Let the deposit per month =Rs.p

Number of months (n)=36

Rate of interest (r) =7.5%p.a.

∴S.I=P× 2x12 n(n+1) × 100r

⇒8325=P× 2×12x 36×37× 100x7.5

⇒8325=P× 2x 3×37x100/7.5

⇒P= 3×37×7.5x 8325×2×100

=Rs.2000

(2) maturity value =P×n+S.I=Rs.(2000×36+8325)=Rs.80325.

I hope I helped you dear