Question

Govinda opened a R.D. account in a bank for 2 years 4 months.If the rate of interest is 8% per year and the bank pays him ₹7369.60 on maturity, find how much per month Govinda deposit? NO SPAM ..
ANSWER IF U KNOW OTHERWISE NOt...
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Answer 1

Can i give you a example to this type of question? Because you should do original math yourself..... see this :

Let time, t = x years

rate of interest = r % per annum

payed amount of bank = ₹ y (on maturity)

Let the deposited money be ₹D.

Interest = Amount - Deposited money

=> (D × 8 × x)/100 = y - D

=> 8Dx/100 = y-D

=> 8Dx/100 - y = - D

=> D = - (8Dx/100 - y)

This is the net formula..... Now i will request you substitute the values and calculate yourself..... That will make you more active if you perform calculations in your own hands

Answer 2

Answer:

Monthly deposit =₹283.45

Step-by-step explanation:

Let the deposit be x

A.D=x*no. of months

x*24=24x

Interest=(x*n(n+1)*rate)/2400

=x*24*25*8/2400

=2x

Maturity Value= A.D+Interest

7369.60=24x+2x

7369.60=26x

7369.60/26=x

283.45= x

So Deposit = ₹283.45