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प्रश्न
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.
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उत्तर
Deposit per month (P) = Rs 800
Amount of maturity = Rs 48200
Period (n) = 4 years = 48 months
Let rate of interest be R% p.a.
Total principal for one month
= `(P(n)(n + 1))/(2)`
= `(800 xx 48 xx (48 + 1))/(2)`
= `₹(800 xx 48 xx 49)/(2)`
= ₹ 940800
Total deposit:
= ₹ 800 × 48
= ₹ 38400
and amount of maturity
= ₹ 48200
∴ Interest earned
= ₹ 48200 − ₹ 38400
= ₹ 9800
(i) Rate of interest
= `("S.I" xx 100)/("P" xx "T")`
= `(9800 xx 100 xx 12)/(940800)`
= 12.5%
(ii) Total interest earned by Shilpa
= ₹ 9800
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| Feb 13 | By Cash | 500.00 | 500.00 | |
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| 08.02.2008 | By Cash | 12000.00 | ||
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Balance (in ₹) |
| 1998, Jan. 8 | By Cash | - | 500·00 | 500·00 |
| March 19 | To Cheque No. 626 | 100·00 | - | 400·00 |
| May 23 | By Cheque | - | 1500·00 | 1,900·00 |
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