Question

Manisha has a recurring deposit account for 2 years at 10% p.a. If she receives ₹1900 as interest, find
the value of the monthly instalment paid by her.

plz send pic​

Answer 1

I=P×n(n+1)÷2×12×r/100

1900=P×24(24+1)÷2×12×10/100

1900=P×24×25÷2×12×10/100

1900=P×5/2

=>P=1900×2/5

=>P=₹760

Thank u all.

Answer 2

Answer:

The value of monthly interest paid by Manisha is equal to ₹760.  

Step-by-step explanation:

Given the number of months for which money is deposited (n)

The number of instalments, n = 2×12= 24 months

The amount of interest, I = ₹1900

The rate of interest per annum , r = 10%

Consider that monthly instalments = ₹

So, then the value of P = x

Using the formula of the simple interest,

$Simple\; Interest = P*(\frac{n(n+1)}{n})(\frac{r}{100} )$

$S.I.=\frac{x*24(24+1)}{24}(\frac{10}{100} )$

$1900=2.5x$

$x=Rs.760$

Therefore, the monthly installment paid by manisha is ₹760.