Question

sunita deposits Rs500 in the beginning of every month in R.D. account and gets
Rs67400 as the maturity va
as the maturity value at the end ot 8 years. Find the rate of interesi paid
the bank.​

Answer 1

Answer:

rate of interest (r) = 10%

Step-by-step explanation:

m.v = 67400

p = 500

n = 8 years = 8*12 = 96 months

m.v = [p*n]+{[ p*n(n+1)]/2*12}*[r/100]

67400 = [500*96]+{[500*96(96+1)]/2*12}*[r/100]

67400 = 48000+[48000*97/24]*r/100

67400 = 48000+1940*r

19400/1940 = r

r = 10%

Answer 2

Answer:

rate of interest (r) = 10%

Step-by-step explanation:

m.v = 67400

p = 500

n = 8 years = 8*12 = 96 months

m.v = [p*n]+{[ p*n(n+1)]/2*12}*[r/100]

67400 = [500*96]+{[500*96(96+1)]/2*12}*[r/100]

67400 = 48000+[48000*97/24]*r/100

67400 = 48000+1940*r

19400/1940 = r

r = 10%

Step-by-step explanation: