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.
Answers
Answered by
4
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%
Answered by
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%
Step-by-step explanation:
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