Question

rekha has a recurring deposit account in a bank .she deposit ₹100 per month for one year and get ₹26 is interest .at the time of maturits.then the rate rate of motorest Is _______ per annum​

Answer 1

Appropriate Question

Rekha has a recurring deposit account in a bank. She deposit ₹100 per month for one year and get ₹26 as interest at the time of maturity. Then the rate rate of interest is _______ per annum.

$\large\underline{\sf{Solution-}}$

Given that,

• Sum deposited per month = Rs 100

• Time = 1 year

• Number of instâllment, n = 12

• Interest received on maturity, I = Rs 26

Let assume that

• Rate of interest per annum be r %

We know

Interest ( I ) received on maturity on deposit of Rs P per month at the rate of r % per annum for n months is

$\bold{ \pink {\rm :\longmapsto\:\boxed{\text{I} = \text{P} \times \dfrac{ \text{n(n + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100} }}}$

So, on substituting the values, we get

$\rm :\longmapsto\:\text{26} = \text{100} \times \dfrac{ \text{12(12 + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100}$

$\rm :\longmapsto\:\text{26} = \dfrac{ \text{13}}{2 } \times r$

$\bf\implies \:r \: = \: 4 \: \% \: per \: annum$

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More to Know

Amount received on maturity when a sum of Rs P is deposited per month at the rate of r % per annum for n months is

$\bold{ \pink {\boxed{\text{Amount} =\text{nP} + \text{P} \times \dfrac{ \text{n(n + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100} }}}$

Answer 2

Appropriate Question

Rekha has a recurring deposit account in a bank. She deposit ₹100 per month for one year and get ₹26 as interest at the time of maturity. Then the rate rate of interest is _______ per annum.

$\large\underline{\sf{Solution-}}$

Given that,

Sum deposited per month = Rs 100

Time = 1 year

Number of instâllment, n = 12

Interest received on maturity, I = Rs 26

Let assume that

Rate of interest per annum be r %

We know

Interest ( I ) received on maturity on deposit of Rs P per month at the rate of r % per annum for n months is

$\bold{ \pink {\rm :\longmapsto\:\boxed{\text{I} = \text{P} \times \dfrac{ \text{n(n + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100} }}}$

So, on substituting the values, we get

$\rm :\longmapsto\:\text{26} = \text{100} \times \dfrac{ \text{12(12 + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100}$

$\rm :\longmapsto\:\text{26} = \dfrac{ \text{13}}{2 } \times r$

$\bf\implies \:r \: = \: 4 \: \% \: per \: annum$

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

More to Know

Amount received on maturity when a sum of Rs P is deposited per month at the rate of r % per annum for n months is

$\bold{ \pink {\boxed{\text{Amount} =\text{nP} + \text{P} \times \dfrac{ \text{n(n + 1)}}{2 \times 12} \times \dfrac{ \text{r}}{100} }}}$