Question

Akshat opens a recurring deposit account of 200 per month, whose maturity value is Rs.10206 at the rate of 12 % per annum . Find the time period of months of the account.​

Answer 1

Answer:

Step-by-step explanation:

recurring value =p*n(n+1)*r/24*100

200*n(n+1)*12/2400=10206-200n

n(n+1)=10206-200n

n^2+n+200n=10206

n^2+201n-10206=0

n^2+243n-42n-10206

n=42 months

Answer 2

Hello!!

Check attachment