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प्रश्न
Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If the bank pays interest at the rate 6% per annum and the monthly instalment is Rs. 1,000, find the:
- Interest earned in 2 years.
- Matured value.
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उत्तर
Given,
P = Rs. 1000
n = 2 years = 24 months
r = 6%
1. Interest = `P xx (n(n + 1))/2 xx r/(12 xx 100)`
= `1000 xx (24 xx 25)/2 xx 6/(12 xx 100)`
= 1500
Thus, the interest earned in 2 years is Rs. 1500.
2. Sum deposited in two years 24 × 1000 = 24,000
Maturity value = Total sum deposited in two years + Interest
= 24000 + 1500
= 25500
Thus, the maturity value is Rs. 25,500.
संबंधित प्रश्न
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| Date | Particulars | Amount Withdrawn (In Rs) |
Amount Deposits (In Rs) |
Balance (In Rs) |
| Jan 1, 2000 Jan, 8 Feb 18 May 19 July 15 Oct 7 |
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Deposits (in ₹) |
Balance (in ₹) |
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