Question

Ms Dutta has a recurring deposit account for 2 years at 8 % simple interest p.a. She

receives ₹ 1,520 as interest on maturity.

(i) Find the monthly installment. (iii) Find the maturity amount​

Answer 1

Answer:

THIS QUESTION IS AS SIMILAR AS THE BELOW QUESTION

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interst. If he gets rs. 1200 as interst at the time of maturity. find:

(i) The monthly installment

(ii) the amount of maturity.

SO SEE THE EXPLANATION OF ABOVE QUESTION AND THEN MAKE YOUR QUESTION

BOTH QUESTIONS ARE SIMILAR.ONLY VALUE CHANGES

EXPLANATION

we know the formula for simple interest;

S.I=

P×T×R/100

let the amount he invested be Rs.P.

1200=

100

p×2×6

P=10000

1. monthly installment:

=

100

10000×

12

1

×6

=50

hence the monthly installment is Rs.50

2. amount of maturity:

=10000+1200=11200

its just the extra amount obtained other than his deposit that is Rs.11200

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Answer 2

Answer:

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