Question

) Kavita has a cumulative time deposit account in a bank. She deposits

Rs. 600 per month and gets Rs. 6165 at the time of maturity. If the rate

of interest be 6% per annum , find total time for which the account was

held.​

Answer 1

Answer:

The seagull didn't have the courage to fly . Hence, he used to make excuses for not flying. He felt certain that his wings were to weak to support him. That's why he was exhausted by the strange excersise. The Golden Ratio is a specific number identified by splitting a line into two sections such that the longer part divided by the smaller part is equivalent to the total length divided by the longer part.

Answer 2

Given:

Principal amount= ₹600

Matured amount=₹6165

rate=6% per anum

To Find:

total months the account was held for

Solution:

For a cumulative time deposit account,

SI=P × $\frac{n(n+1)}{12\times2}$ × $\frac{r}{100}$ ......(1)

where, P= Principal amount

           n=total number of months

           r=interest rate

            SI=Simple interest

Now from context,

SI=Principal amount-( monthly deposit×number of months)

SI=6165-600×n

Putting the value of SI in equation in (1)

$6165-600\times$n = $\frac{600\times[n(n+1)]\times6}{12\times2\times100}$

$6165-600\times$n = $\frac{3}{2} [n^{2}+n]$

                     = $1.5 n^{2} +1.5n$

$1.5n^{2} +601.5n-6165$=0

Solving,

the above quadratic equation,

n=$-601.5$±$\frac{-601.5\pm\sqrt{(601.5^{2})+4\times\times6165 } }{2\times1.5}$

n=$\frac{30}{3}$=10 months (ANS)