Question

joseph deposit 600 per month in a recurring deposit account in a post offices for 4 nd half years find the amount pay7able to him on maturity if rate of interest is 9%per annum​

Answer 1

Answer:

Given

Instalment per month P= ₹ 600

number of months n=54

Rate of interest =8 % p.a.

Let

Amount received at the time of maturity be A

∴S.I.=P×

2×12

n(n+1)

×

100

8

=600×

2×12

54(54+1)

×

100

8

=6×

24

54×55

×8

=5940

Now, Maturity value = Money deposited + Interest

⇒A=600×54+5940

⇒A=32400+5940

⇒A=38340

Hence, the amount received at the time of maturity, A= ₹ 38,340.

follow me✌✌✌

Answer 2

hahahahha

​

=600×

2×12

54(54+1)

​

×

100

8

​

=6×

24

54×55

​

×8

=5940

Now, Maturity value = Money deposited + Interest

⇒A=600×54+5940

⇒A=32400+5940

⇒A=38340

Hence, the amount received at the time of maturity, A= ₹ 38,340.