Advertisements
Advertisements
प्रश्न
Ahmed has a recurring deposit account in a bank. He deposits Rs. 2,500 per month for 2 years. If he gets Rs. 66,250 at the time of maturity, find
- The interest paid by the bank
- The rate of interest
Advertisements
उत्तर
1. P = Rs. 2500, n = 2 years = (2 × 12) months = 24 months
Total Principal = Rs. 2,500 × 24
= Rs. 60,000
Amount = Rs. 66,250
Interest = Amount – Principal
= Rs. 66,250 – Rs. 60,000
= Rs. 6,250
Thus, the interest paid by the bank is Rs. 6,250.
2. Let r be the rate of interest.
`N = (n(n + 1))/(2 xx 12)`
= `(24 xx 25)/(2 xx 12)`
= 25 years
This is equivalent to depositing Rs. 2,500 for 25 years.
Interest = `(P xx N xx R)/100`
⇒ `6250 = (2500 xx 25 xx R)/100`
⇒ R = 10
Thus, the rate of interest is 10%.
APPEARS IN
संबंधित प्रश्न
A page from a savings bank account passbook is given below:
| Date | Particulars | Amount withdrawn (Rs.) |
Amount Deposited (Rs.) |
Balance (Rs.) |
| Jan 7, 2016 | B/F | 3,000.00 | ||
| Jan 10, 2016 | By Cheque | 2600.00 | 5600.00 | |
| Feb 8, 2016 | To Self | 1500.00 | 4100.00 | |
| Apr 6, 2016 | By Cheque | 2100.00 | 2000.00 | |
| May 4, 2016 | By Cash | 6500.00 | 8500.00 | |
| May 27, 2016 | By Cheque | 1500.00 | 10000.00 |
1) Calculate the interest for the 6 months from January to June 2016, at 6% per annum.
2) If the account is closed on 1st July 2016, find the amount received by the account holder.
Gopal has a cumulative deposit account and deposits Rs. 900 per month for a period of 4 years he gets Rs. 52,020 at the time of maturity, find the rate of interest.
Deepa has a 4-year recurring deposit account in a bank and deposits Rs 1,800 per month. If she gets Rs 1,08,450 at the time of maturity, find the rate of interest.
John had a savings bank account in a bank. In the months of april, 97 and May, 97 He had the following entries in his passbook.
| Date | Particulars | Withdrawals (In Rs) | Deposits (In Rs) | Balance (In Rs) |
| April 1 | By Balance | 4,600.00 | ||
| April 7 | By cash | 1,200.00 | 5,800.00 | |
| April 24 | To Cheque | 800.00 | 5,000.00 | |
| May 16 | By Cheque | 2,000.00 | 7,000.00 | |
| May 29 | To Cash | 1,500.00 | 5,500.00 |
Find the amounts on which John will get interest for the months of April, 97 and May 97.
The following enb·ies are from the saving bank account passbook of Mr. Ratnesh. If the rate of interest paid by the bank is 4. 5°/op.a. calculated at the end of March and September, find the balance in his account at the end of the year.
| Date | Particulars | Withdrawls | Deposits | Balance |
| 03.01.2006 | By B/F | 17900.00 | ||
| 09.01.2006 | To Cash | 3700.00 | 14200.00 | |
| 06.02.2006 | To Cheque | 2450.00 | 11750.00 | |
| 21.02.2006 | By Cash | 15600.00 | 27350.00 | |
| 17.03.2006 | By Cash | 9850.00 | 37200.00 | |
| 31.03.2006 | By Interest | |||
| 06.06.2006 | To Cheque | 4100.00 | ||
| 22.08.2006 | To Cash | 1500.00 | ||
| 05.09.2006 | By Cheque | 17300.00 | ||
| 09.09.2006 | To Cash | 6300.00 | ||
| 30.09.2006 | By Interest | |||
| 04.12.2006 | To Cash | 3000.00 | ||
| 11.12.2006 | By Cheque | 11760.00 |
Mr. Menon deposit Rs 1,200 per month in a cumulative deposit account for a period of 5 years. After the end of the period, he will receive Rs 88,470. (a) Find the rate of the interest per annum. (b) Find the total interest that Mr. Menon will earn.
Mr. Mohan has a cumulative deposit account for 3 years at 7% interest pa. She receives Rs 8,547 as a maturity amount after 3 years.
(a) Find the monthly deposit.
(b) Find the total interest receivable after maturity.
Mr. R.K. Nair gets Rs 6,455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly installment.
John deposited Rs 400 every month in a bank’s recurring deposit account for `2(1)/(2)` years. If he gets Rs 1085 as interest at the time of maturity, then the rate of interest per annum is
Mr. Dhruv deposits Rs 600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.
