Question

Mr. Sonu has a recurring deposit account and deposits ₹ 750 per month for 2 years. lf he gets ₹ 19,125 at the time of maturity, find the rate of interest.​

Answer 1

Step-by-step explanation:

★ Given :-

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• Principal = ₹ 750
• Time = 24 months
• Maturity Value = ₹ 19,125

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★ To Find :-

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• Rate of lnterest [ % ].

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★ Answer :-

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$\mapsto\bold \pink{Formula \: Required :- } \\ \\ \bold{P \times n + \frac{P \times n \times (n + 1)}{2 \times 12} \times\frac{R}{100} =M.V }$

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★ Solution :-

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• Substituting the values in the given formula :-

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⠀$\footnotesize \bold{750 \times 24 + \frac{750 \times 24 \times 25}{2 \times 12} \times \frac{R}{100} = 19125 } \\ \\ \footnotesize\bold{18000 + \frac{750 \times \cancel{ 24 }\times \cancel{ 25}}{ \cancel2 \times \cancel {12}} \times \frac{R}{ \cancel{100}} = 19125 } \\ \\ \bold{18000 + \frac{750×R}{4} = 19125 } \\ \\ \Large\bold \red{R = 6 \%}$

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★ Hence,

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• The rate of percent = $\bold\pink{6 \%}$

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Q.] Mr Sanju deposits 3000 per month in a cumulative bank account for five years at the rate of 11% per annum. Find the amount he will receive at the time of maturity.

https://brainly.in/question/43683006

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Answer 2

Answer:

Refer to attachment for detailed answer