Question

can you please answer this question
Sanjana deposits rup500 every month in a RD scheme and receives 16,550 at the end of 2½
years. Calculate the rate of interest given by the bank.​

Answer 1

Step-by-step explanation:

Let Shivangi deposit Rs500 for one month.

Therefore, for 2

2

1

=30×500=15000

Hence total amount given by shivangi Rs15000

total amount given back to Shivangi =Rs16,550

Total extra money 16,550−15000=Rs1,550

Rs1,550 is 9.36% of Rs16,550

Rate of interest given by bank to Shivangi is 9.36%

Which can be written as

31

290

Now

N

M

=

31

290

N=31