Question

Sonali deposits ₹240 per month at 10,%per annum in a bank and the bank pays her ₹4662 on maturity ,find the total time for which the account is held​

Answer 1

here is your answer.........................................

Answer 2

Answer:

The account of Sonali is held in the bank for 18 months.

Step-by-step explanation:

Consider that Sonali's account is held for 'n' months.

Given, the money deposited by her per month (P) = ₹240

Then, the total money deposited in n months by Sonali = ₹240×n

Maturity amount paid by bank = ₹4662

Interest earned will be (S.I.) = ₹(4662 - 240n)

Rate (r) = 10% per annum

By using the formula simple interest,

$S.I.=P* [\frac{n(n+1)}{2*12} ]*\frac{r}{100}$

$4662-240n=240* [\frac{n(n+1)}{24} ]*\frac{10}{100}$

n + n² = 4662 - 240

n² + 241n - 4662 =0

n² + 259n-18n - 4662 = 0

n(n+ 259) - 18(n+ 259) = 0

(n - 18)(n + 259) = 0

n = 18, -259

Since n cannot be -ve, therefore n= 18,

Therefore, Sonali's account is held for 18 months.