Question

arushi has a reccuring deposit account of rupees 300 per month if the rate of interest is 10 and arushi gets rupees 22575at the time of maturity find the maturity period of account​

Answer 1

sorry by mistake i send this answer to u it is of another question

ANSWER

P=300 per month , R=12% , MV=1800

Maturity Value =(1+

2400

(n+1)×R

)×n×P

where n is the time in months.

⟹8100=(1+

2400

(n+1)×12

)×n×(300)

⟹27=n+ 200(n 2 +n)

⟹n

2 +201n−5400=0

⟹(n−24)(n+225)=0

⟹n =−225

∴n=24 months =2 years

sorry by mistake i send it it is of another question