Question

Anu deposits ₹1000 per month in a recurring deposit account for 3 years.if she gets₹40,440 as the maturity account find the interest earned by Anu​

Answer 1

Step-by-step explanation:

anu deposits 1000 every month in a regarding deposits account for 3 years at 8% Interest per anum

The matured value.

Formula use :

S.I. = P × n(n+1)/2 × 12 × r/100

Anu deposit (P) = Rs.1000

Time (n) = 3 years = (12 × 3 ) = 36 months

Rate (r) = 8%

A/q

S.I. = 1000 × 36(36+1)/2 × 12 × 8/100

S.I. = 1000 × 36(37)/24 × 8/100

S.I. = 1000 × 1332/3 × 100

S.I. = Rs.(10 × 444)

S.I. = Rs.4440.

So,

Matured Value = Principal × Time + Interest

Matured Value = 1000 × 36 + 4440

Matured Value = 36000 + 4440

Matured Value = Rs.40440.