Question

kiran deposited Rs 200 per months in bank's recurring deposit account .if the bank pays interest at the rate of 11% per annum,find the amount she gets on maturity​

Answer 1

Answer:

Kiran deposit= RS 200

Step-by-step explanation:

bank pays interest at the rate = 11%

11/100*200

after cancel

11*2

22

Answer 2

Given:

Amount deposited by Kiran = ₹ 200

Rate of interest = 11% p.a.

Period (x) = 36 months

So the amount deposited in 36 months = 200 × 36 = ₹ 7200

We know that:

Total principal for one month = 200 × [x (x + 1)]/ 2

Substituting the value of x

= 200 × (36 × 37)/ 2

By further calculation:

= ₹ 133200

Interest = PRT/ 100

Substituting the values:

= (133200 × 11 × 1)/ (100 × 12)

So we get:

= ₹ 1221

So the amount of maturity = P × x + SI

= 7200 + 1221

= ₹ 8421