Question

Arun deposited ₹ 80 per month in a cumulative deposit account for five years. The amount
payable to him on maturity, if the rate of interest is 6% per annum is :

Answer 1

Answer:

₹ 5,532

Step-by-step explanation:

Given,

• P = ₹ 80
• r = 6%
• n = 5 × 12 = 60 months

$\sf I = p \times \dfrac{n(n + 1)}{2 \times 12} \times \dfrac{r}{100} \\ \\ \sf I = 80 \times \dfrac{60(60 + 1)}{24} \times \dfrac{6}{100} \\ \\ \sf I = 8 \times \dfrac{6 \times 61}{24} \times 6 \\ \\ \sf I = \dfrac{6 \times 61}{3} \times 6 \\ \\ \sf I = 2 \times 61 \times 6 \\ \\ \sf I = Rs. \: 732$

Finally,

M.V = P × n + I

M.V = 80 × 60 + 732

M.V. = 4800 + 732

M.V. = ₹ 5,532

Therefore, ₹ 5,532 the amount payable to him on maturity.

_______________________

Answer 2

Answer:

₹5532

Step-by-step explanation:

hope you satisfied with this answer