A recurring deposit account is opened with Dena Bank, Meerut Cantt. For this ₹ 2,000 per month (at 10% p.a.) is deposited in the bank. If the maturity value is ₹ 25,300, find the total time for which account was held.

Premlata deposits ₹ 5,000 in an R.D. account at 8% p.a. rate of interest. How much per month must she deposit to get the same interest when the rate of interest is increased by 2%. Time in both the cases is same.

Case study:
Manish, a bank employee, purchased a plot (15 m × 18 m) in Ghaziabad. He paid ₹ 2,00,000 at the beginning as down payment and agreed to pay the remaining ₹ 6,00,000 at the end of 2 years from the date of purchase.

In order to pay ₹ 6,00,000 at the end of two years, he opened an R.D. account in his bank, with ₹ 20,000 per month at 8% rate of interest.

(i) Find the maturity value of this account at end of 2 years.

(ii) Is the M.V. of the above R.D. account equal to ₹ 6,00,000 ?

If not, how much more/less should the monthly instalment be so that Manish gets the required money (₹ 6,00,000) at the end of two years ?