mrs beena has a cumulative deposit account of RS 400 per month at 10% per annum simple interest . if she gets Rs 30100 at the time of maturity, find the total time for which the account was held
Answers
Account was held for 60 months = 5 years
Step-by-step explanation:
Let say account was held for n moths
1st Deposit got interest for n months
2nd deposit got for n - 1 months
and last Deposit nth for 1 month
Interest for n months = 400 * (n/12) * 10/100 = 40n/12 = 10n/3
10n/3 , 10(n-1)/3 .............................................+ 10/3
400n is deposited anount & interest
Sum = 400n + (n/2)(10n/3 + 10/3)
= 400n + 5n²/3 + 5n/3
400n + 5n²/3 + 5n/3 = 30100
=> 5n² + 1200n + 5n = 90300
=> n² + 241n - 18060 = 0
=> n² + 301n - 60n - 18060 = 0
=> (n + 301)(n - 60) =0
=> n = 60
Account was held for 60 months = 5 years
Learn more:
Tanvi has a recurring deposit account in a finance company for 18 ...
https://brainly.in/question/9974725
At six months intervals , A deposited of Rs. 1000 in a savings ...
https://brainly.in/question/13149844
Answer:
The account was held for 5 years.
Step-by-step explanation:
Refer to the image
