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प्रश्न
Ashish deposits a certain sum of money every month is a Recurring Deposit Account for a period of 12 months. If the bank pays interest at the rate of 11% p.a. and Ashish gets ₹ 12,715 as the maturity value of this account, what sum of money did money did he pay every month?
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उत्तर
Let Installment per month (P) = Rs. y
Number of months (n) = 12
Rate of interest (r) = 11% p.a
So,
∴ `S.I. = P xx (n(n + 1))/(2 xx 12) xx r/100`
= `y xx (12(12 + 1))/(2 xx 12) xx 11/100`
= `y xx 156/24 xx 11/100`
= Rs 0.715y
Hence,
Maturity value = Rs. (y × 12) + Rs. 0.715y = Rs. 12.715y
Given maturity value = Rs. 12,715
So, on equating we have
Rs. 12.715y = Rs 12,715
`\implies` y = `12715/12.715` = Rs. 1000
Therefore, the sum of money Ashish paid every month was Rs. 1000.
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संबंधित प्रश्न
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| Date | Particulars | Withdrawal (In Rs.) |
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| January 1st, 2006 | B/F | - | - | 1270 |
| January 7th, 2006 | By Cheque | - | 2310 | 3580 |
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| July 15th, 2006 | By Clearing | - | 2630 | 5910 |
| October 18th, 2006 | To Cheque | 530 | - | 5380 |
| October 27th, 2006 | To Self | 2690 | - | 2690 |
| November 3rd, 2006 | By Cash | - | 1500 | 4190 |
| December 6th, 2006 | To Cheque | 950 | - | 3240 |
| December 23rd, 2006 | By Transfer | - | 2920 | 6260 |
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Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| 4200 | 7% | 3 years | ...... | ...... |
Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| ...... | 5% | ...... | 6000 | 18000 |
