Question

Mr Vig has a Recurring Deposit Account in a bank for 5 years at 9% p... simple interest. If he gets 53082 at the time of maturity, find the monthly ínstalment​

Answer 1

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Mr Vig has a Recurring Deposit Account in a bank for 5 years at 9% p... simple interest. If he gets 53082 at the time of maturity, find the monthly ínstalment​.

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(1) Let the deposit per month =Rs.p

Number of months  (n)=36

Rate of interest (r) =7.5%p.a.

∴S.I=P×$\dfrac{n(n+1)}{2×3}.$  × $\dfrac{r}{100}.$

⇒8325=P× $\dfrac{36×37}{2×12}.$×$\dfrac{7.5}{100}.$

⇒8325=P× $\dfrac{3×37}{2}.$×$\dfrac{7.5}{100}.$

⇒P=$\dfrac{8325×2×100}{3×37×7.5}.$=Rs$.2000$

(2) maturity value =P×n+S.I=Rs.(2000×36+8325)=Rs.80325

Hence, the answer is 80325

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Answer 2

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Mr Vig has a Recurring Deposit Account in a bank for 5 years at 9% p... simple interest. If he gets 53082 at the time of maturity, find the monthly ínstalment.

$\huge\mathcal\colorbox{lightviolet}{{\color{pink}{✿Yøur-AñsWēR♡}}}$

(1) Let the deposit per month =Rs.p

Number of months  (n)=36

Rate of interest (r) =7.5%p.a

$∴S.I=P×\dfrac{n(n+1)}{2×3}.2×3n(n+1).  × \dfrac{r}{100}.100r.</p><p>⇒8325=P× \dfrac{36×37}{2×12}.2×1236×37. ×\dfrac{7.5}{100}.1007.5.</p><p>⇒8325=P× \dfrac{3×37}{2}.23×37. ×\dfrac{7.5}{100}.1007.5.</p><p>⇒P=\dfrac{8325×2×100}{3×37×7.5}.3×37×7.58325×2×100. =Rs.2000.2000$

(2) maturity value =P×n+S.I=Rs.(2000×36+8325)=Rs.80325

Hence, the answer is 80325