Question

Ahmed has a recurring deposit account in a bank for 2 years at 6% per

annum simple interest. If he gets Rs.1200 as interest at the time of

maturity find : i) the monthly instalment ii) the amount of maturity​

Answer 1

Answer:

Step-by-step explanation:

ANSWER

we know the formula for simple interest;

S.I=

100

P×T×R

​

let the amount he invested be Rs.P.

1200=

100

p×2×6

​

P=10000

1. monthly installment:

=

100

10000×

12

1

​

×6

​

=50

hence the monthly installment is Rs.50

2. amount of maturity:

=10000+1200=11200

its just the extra amount obtained other than his deposit that is Rs.11200

I HOPE IT HELPS YOU AND THIS METHOD CAN USE FOR THIS SUM