Question

Beena has a cumulative deposit account of rs.400 per month at 10%p.a simple interest.if she gets rs.30100 at the time of maturity, find the total time for which the account was held.

Answer 1

Answer:

P=340 Rs r=6%Pa Hv=7157 n=?

Mv=Pn+Px

2

(n(n+1))

×

12×100

r

7157=340n+340×

2

n(n+1)

×

12×100

6

n

2

+41n−8420=0

n=

2

−4±188

=73.5 or −114.5

n=−114.5 ⇒ n=73.5

Answer 2

Answer:

Refer to the image above for the solution