Question

Q1. Mrs Ranjana deposits 1600 per month in a recurring
deposit account at 9% p.a. S.I. If she gets Rs. 65592
at the time of maturity, find the total time for which
the account was held.
(Time in months)
pls ans. this..​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

The account was held for 36 months.

Step-by-step explanation:

Given:

monthly deposit= Rs.1600

rate of interest= 9% p.a.

Amount received= Rs 65592

To find:

time period

Solution:

Let m be the number of months to find

Now as we know, N= m(m+1)

                                   2 X 12

According to the formula for simple interest,

Principal amount= Pm + PNR/100

But the principal amount is already given

65592= 1600 (m)+ 1600 X m(m+1) X 9

                                     2 X 12 X 100

65592= 1600m+ 800 X m(m+1) X 3

                                1 X 4 X 100

65592= 1600m+ 8 X m(m+1) X 3

                                1 X 4 X 1

65592= 1600m+ 2 X m(m+1) X 3

                                1 X 1 X 1

65592= 1600m+ 6 X m(m+1)

65592= 1600m+ 6 X (m²+m)

65592= 1600m+ 6m²+6m

adding the like terms

65592 = 1606m+ 6m²

Now, 6m²+1606m-65592=0

Using the factrization method

6m²+ 1822m-36m-65592=0

Taking out the like terms

m(6m+1822)-36(6m+1822)=0

(6m+1822) (m-36)=0

(6m+1822)=0 or (m-36)=0

6m+1822=0 or m-36=0

6m = -1822 or m= 36

m= -1822/6 or m= 36

But the answer cannot be negative

Hence, m=36 will be correct

The account was held for 36 months that is 3 years

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