Question

MksAsha mente deposit 250 per month
for one year in a bank's securing deposit
account the rate of interest is 37. 'pes
annum, then the interest earned by
her on this account is​

Answer 1

ANSWER

Given, maturity value =66,250, monthly installment =2,500, n=2 years =2×12=24 months

Interest =

2400

Pn(n+1)r

=

2400

255×24×25×r

=625r

Therefore, amount =(Pn+625r)

⇒66,250=(2500×24+625r)

⇒66,250=60,000+625r

⇒6250=625r

⇒r=10%

Answer 2

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