Advertisements
Advertisements
प्रश्न
Mr. Bajaj needs Rs. 30,000 after 2 years. What least money (in multiple of 5) must he deposit every month in a recurring deposit account to get required money at the end of 2 years, the rate of interest being 8% p.a.?
Advertisements
उत्तर
Let installment per month = Rs. P
Number of months (n) = 24
Rate of interest = 8% p.a
∴ `S.I. = P xx (n(n + 1))/(2 xx 12) xx r/100`
= `P xx (24(24 + 1))/(2 xx 12) xx 8/100`
= `P xx 600/24 xx 8/100`
= Rs. 2P
Maturity value = Rs. (P × 24) + Rs. 2P = Rs. 26P
Given maturity value = Rs. 30,000
Then 26P = Rs. 30,000
`\implies` P = Rs. `30000/26`
= Rs. 1153.84
= Rs. 1155 ...(Multiple of 5)
APPEARS IN
संबंधित प्रश्न
The maturity value of an R.D. Account is ₹ 16176. If the monthly instalment is ₹ 400 and the rate of interest is 8%; find the time (period) of this R.D Account.
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.
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.
A page from the passbook of Asha is given below:
| Date | Particulars | Amount Withdrawn (Dr) Rs P | Amount Deposits (Cr) Rs. P | Balance Rs. P |
| Jan 5 March 7 April 2 April 10 Oct , 6 Dec, 8 |
Balance B/F To Cheque By Cheque By Cheque By Cheque By Cash |
1,200.00
950.00 |
2,300.00
1,700.00
|
3,750.00
|
Complete the passbook and then calculate the interest for the period January to December 5% per annum.
Mrs Khandelkar invests Rs 900 every month in a recurring deposit account for a period of 3 years at a simple interest rate of 8% pa
(a) Find the total interest she will earn at the end of the period.
(b) Find the maturity value of her deposits.
Ms. Saha opened a cumulative deposit account of monthly instalment of Rs 1,200 at 9%p.a simple interest. She earned a total interest of Rs 5,328. How much installments did she pay?
Mr. Richard has a recurring deposit account in a post office for 3 years at 7.5% p.a. simple interest. If he gets Rs. 8,325 as interest at the time of maturity, find:
- the monthly instalment.
- the amount of maturity.
Given below are the entries in a Savings Bank A/c passbook:
| Date | Particulars | Withdrawals (in ₹) |
Deposits (in ₹) |
Balance (in ₹) |
| Feb 8 | B/F | - | - | ₹ 8,500 |
| Feb 18 | To self | ₹ 4,000 | - | - |
| April 12 | By cash | - | ₹ 2,230 | - |
| June 15 | To self | ₹ 5,000 | - | - |
| July 8 | By cash | - | ₹ 6,000 | - |
Calculate the interest for six months from February to July at 6 % p.a.
Mr. Sharma deposited Rs 500 every month in a cumulative deposit account for 2 years. If the bank pays interest at the rate of 7% per annum, then the amount he gets on maturity is
Shilpa has a 4 year recurring deposit account in Bank of Maharashtra and deposits Rs 800 per month. If she gets Rs 48200 at the time of maturity, find
- the rate of simple interest.
- the total interest earned by Shilpa.
