Question

We know that the maturity value (MV) of the recurring deposit can be calculated as:

MV = Total amount deposited + Total Interest Earned

⇒ ₹30600= Total amount deposited + Total Interest Earned

Now, assuming that the number of months for which the account is held is n, can we express the RHS of the above equation in terms of n?

Hint 2
Given that Mansi deposits ₹1200 every month for n months, the total amount deposited equals ₹1200×n. Also, given that the rate of interest is 6%, the total interest earned on the recurring deposit equals ₹1200×n(n+1)2×12×6100.

Let’s substitute these values in the following equation:

₹30600= Total amount deposited + Total Interest Earned becomes:

⇒ ₹30600= ₹1200×n+ ₹1200×n(n+1)2×12×6100
⇒ ₹30600= ₹1200×n×(1+n+124×6100)
⇒ ₹30600₹1200=n×(1+n+1400)
⇒ 512=n×(n+401400)
⇒ 51×200=n2+401n
⇒ n2+401n−51×200=0
Can we now solve this quadratic equation for n?

Answer 1

Answer:

so did since condom come today for lunch coffee coffee Cochin common so awesome