Advertisements
Advertisements
प्रश्न
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?
Advertisements
उत्तर
Given that, cumulative deposit per month =Rs 1200, Period= t Months, R=9 %, Interest amount= Rs. 5328
Money deposited= Monthly value x No ofMonths=1200 x t= Rs 1200t
Total Principal for 1 Month = `(1200 xx ("t")("t" + 1))/2`
= 600t2 + 600 t
Interest = `("Principal for One month" xx "R")/(12 xx 100)`
..... (1)
Putting Values in (1), we get
5328 = `((600"t"^2 + 600"t") xx 9)/1200`
⇒ 5328= (4.5t2 + 4.5t)
⇒ 4.5t2 + 4.5t - 5328 = 0
⇒ t = 34 months (approximately)
Thus, she paid 34 installments.
APPEARS IN
संबंधित प्रश्न
Pramod deposits Rs. 600 per month in a Recurring Deposit Account for 4 years. If the rate of interest is 8% per year; calculate the maturity value of his account.
Rishabh has the recurring deposit account in a post office for 3 years at 8% p.a. simple interest. If he gets Rs 9,990 as interest at the time of maturity, find:
1) The monthly instalment.
2) The amount of maturity.
Rekha opened a recurring deposit account for 20 months. The rate of interest is 9% per annum and Rekha receives Rs. 441 as interest at the time of maturity. Find the amount Rekha deposited each month.
Aarushi has a recurring deposit account for 2 years at 6% pa. She receives Rs 1,125 as interest on maturity.
(a) Find the monthly instalment amount.
(b) Find the maturity amount.
Mr. Pradip deposited Rs 2,400 pm in bank for One year 6 months under the recurring deposit scheme. If the maturity value of his deposit is Rs 47,304 find the rate of interest per annum.
Veena deposits Rs. 100 per month in a bank cumulative time deposit scheme for a period of 5 years. What amount does she get on maturity if the rate of interest is 16%?
Mr. Chaudhary opened a Saving’s Bank Account at State Bank of India on 1st April 2007.
| Date | Particulars | Withdrawals (in ₹) |
Deposits (in ₹) |
Balance (in ₹) |
| 1st April 2007 | By Cash | - | 8,550·00 | 8,550·00 |
| 12th April 2007 | To Self | 1,200·00 | - | 7,350·00 |
| 24th April 2007 | By cash | - | 4,550·00 | 11,900·00 |
| 8th July 2007 | By Cheque | - | 1,550·00 | 13,400·00 |
| 10th Sept. 2007 | By Cheque | - | 3,500·00 | 16,900·00 |
| 17th Sept. 2007 | To Cheque | 2,500·00 | - | 14,400·00 |
| 11th Oct. 2007 | By Cash | - | 800·00 | 15,200·00 |
| 6th Jan. 2008 | To Self | 2,000·00 | - | 13,200·00 |
| 9th March 2008 | By Cheque | - | 950·00 | 14,150·00 |
If the bank pays interest at the rate of 5% per annum, find the interest paid on 1st April, 2008. Give your answer correct to the nearest rupee.
Mrs. Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value. (2009)
Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for `4(1)/(2)` years at 11% p.a. (simple interest). If he gets Rs 101418.75 at the time of maturity, find the monthly installment.
₹ 50 per month is deposited for 20 months in a recurring deposit account. If the rate of interest is 10%; the maturity value is ______.
