Advertisements
Advertisements
प्रश्न
Suresh has a recurring deposit account in a bank. He deposits ₹ 2000 per month and the bank pays interest at the rate of 8% per annum. If he gets ₹ 1040 as interest at the time of maturity, find in years total time for which the account was held.
Advertisements
उत्तर
Deposit per month P = ₹ 2000
Rate of interest R = 8%
Interest earned, I = ₹ 1040
Let n months be the length of time for which money is invested.
Then, by formula
I = `(P xx n(n + 1))/(2 xx 12) xx r/100`
1040 = `2000 xx (n(n + 1))/(2 xx 12) xx 8/100`
1040 = `(20 xx n xx (n + 1))/3`
52 × 3 = n2 + n
n2 + n – 156 = 0
n2 + 13n – 12n – 156 = 0
n(n + 13) – 12(n + 13) = 0
(n – 12)(n + 13) = 0
n = 12 ...(∵ n = –13, is not possible)
As a result, the time period for which money is invested is 12 months or 1 year.
APPEARS IN
संबंधित प्रश्न
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7,725 at the time of maturity, find the rate of interest per annum.
Ritu has a Recurring Deposit Account in a bank and deposits Rs. 80 per month for 18 months. Find the rate of interest paid by the bank if the maturity value of the account is Rs. 1,554.
Deepa has a 4-year recurring deposit account in a bank and deposits Rs 1,800 per month. If she gets Rs 1,08,450 at the time of maturity, find the rate of interest.
Manu opened a savings bank account in the state bank of India on 3rd sept, 12 with Rs. 2,700. He withdrew Rs. 1,200 from the bank on 8th sept, 12 and deposited Rs. 500 on 17th sept, 12. If he did not make any further deposits or withdrawals during this month; find the amount on which he would receive interest for sept, 12.
Mr. Sen has a savings bank account with a post office.
(i) calculate the interest earned by Mr. Sen during the year 2010 at 6.5% per annum payable in December if the entries during the year in his passbook are as given below:
| Date | Particulars | Withdrawals (Rs) | Deposits (Rs) |
| 2.1.10 | By cash | 250.00 | |
| 9.1.10 | By Cheque | 825.00 | |
| 13.3.10 | To Cash | 325.00 | |
| 24.7.10 | By Cash | 1,237.00 | |
| 6.10.10 | To Cheque | 250.00 | |
| 22.12.10 | By Cheque | 958.00 |
(ii) Also, calculate the interest when the principal for every month is taken as the nearest multiple of Rs. 10.
Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month for `1 1/2` years. If he recieved Rs 15,084 at the time of maturity, find the rate of interest per annum.
Using R.D., table calculate the values of a R.D., account of Rs. 80 for period of 9 months @ 11.5% p. a.
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.
Manish opened an R.D. account in a bank and deposited ₹ 1,000 per month at the interest of 10% per annum and for 2 years. The total money deposited by him is ______.
₹ 50 per month is deposited for 20 months in a recurring deposit account. If the rate of interest is 10%; the maturity value is ______.
