Mathematics
Kavita has a cumulative time deposit account in a bank. She deposits ₹800 per month and gets ₹16,700 as maturity value. If the rate of interest be 5% per annum, find the total time for which the account was held. (Hint: x² + 481x − 10020 = 0 ⇒ x² + 501x − 20x − 10020 = 0)
Related Questions
Punam opened a recurring deposit account with Bank of Baroda for 1½ years. If the rate of interest is 6% per annum and the bank pays ₹11,313 on maturity, find how much Punam deposited each month?
Kavita has a cumulative time deposit account in a bank. She deposits ₹600 per month and gets ₹6,165 at the time of maturity. If the rate of interest be 6% per annum, find the total time for which the account was held. (Hint: x² + 411x − 10x − 4110 = 0)
David opened a recurring deposit account in a bank and deposited ₹300 per month for two years. If he received ₹7,725 at the time of maturity, find the rate of interest per annum.
Preeti has a recurring deposit account of ₹1,000 per month at 10% per annum. If she gets ₹5,550 as interest at the time of maturity, find the total time for which the account was held.