Question

(b) Mohan has an recurring deposit account in a bank. If he deposits
Rs 800 per month at 6% p.a interest and receives Rs 1200 as
interest at the time of maturity. Find the time for which the
the account was held.​

Answer 1

Answer:

15 Months

Step-by-step explanation:

I = PRT/100

I - Intrest = Rs1200

P - Principal = Rs800

R - Rate = 6%

T - Time = ?

Find: Time

T = I * 100/PR

= 1200 * 100/800*6

= 200 /8

= 15

Time = 15 months .