Question

Mr.Yadav has a recurriing deposit account for 2 years at 6% interest p.a. He receives rupees 975 as interest on maturity. i) Find the monthly installment amount. ii) Find the maturity amount. PLZ ANSWER !!! I WILL MARK AS BRAINLIEST!!!

Answer 1

Answer:

Let monthly installment = ₹ X

so yearly deposit amount = 12X

$12x \times (1 + \frac{6}{100} ) {}^{2} = 975$

$12x = 975 \times \frac{50}{53} \times \frac{50}{53}$

$x = \frac{975 \times 50 \times 50}{12 \times 53 \times 53} = 76.65$

so monthly installment = 76.65

& maturity amount already given 975.

Answer 2

Answer:

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