Mathematics
Rajiv Bhardwaj has a recurring deposit account in a bank of ₹600 per month. If the bank pays simple interest of 7% p.a. and he gets ₹15450 as maturity amount, find the total time for which the account was held.
Related Questions
Salman deposits ₹ 1,000 every month in a recurring deposit account for 2 years. If he receives ₹ 26,000 on maturity, find :
(a) total interest Salman earns
(b) the rate of interest.
Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for 4½ years at 11% p.a. (simple interest). If he gets ₹101418.75 at the time of maturity, find the monthly installment.
In a recurring deposit account for 2 years, the total amount deposited by a person is ₹ 9600. If the interest earned by him is one-twelfth of his total deposit, then find :
(a) the interest he earns
(b) his monthly deposit
(c) the rate of interest
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.