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Question
Zafarullah has a recurring deposit The list price of the television be? 12,500. account in a bank for 3½ years at 9.5% S.I. p.a. If he gets Rs. 78,638 at the time of maturity. Find the monthly instalment.
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Solution
Let the monthly instalement be of ₹ x
then,
Maturity value
= `₹(x xx 42) + ₹(x xx(42 xx 43)/(2 xx 12) xx (19)/(200))`
⇒ 78,638 = 42x + `(5,719x)/(800)`
⇒ `(39,319)/(800) x` = 78,638
⇒ x = 1600
Hence, the monthly instalment was of ₹ 1600.
RELATED QUESTIONS
A page from the passbook of Mrs. Rama Bhalla is given below:
| Date | Particulars | Withdrawals (In Rs) | Deposits (In Rs) | Balance (In Rs) |
| January 1 | B/F | 2,000.00 | ||
| January 9 | By Cash | 200.00 | 2,200.00 | |
| February 10 | To Cheque | 500.00 | 1,700.00 | |
| February 24 | By Cheque | 300.00 | 2,000.00 | |
| July 29 | To Cheque | 200.00 | 1,800.00 | |
| November 7 | By Cash | 300.00 | 2,100.00 | |
| December 8 | By Cash | 200.00 | 2,300.00 |
Calculate the interest to Mrs. Bhalla for the period from January 2004 to December 2004, at the rate of 5% per annum.
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(iii) 06-09-2007; withdrew Rs. 1,600
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Deposits (in ₹) |
Balance (in ₹) |
| 1998, Jan. 8 | By Cash | - | 500·00 | 500·00 |
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