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 ..
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Answers
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:
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