If the maturity amount in a recurring deposit account is Rs. $40000$ and monthly installments is Rs. $400$ , find the number of installments. (Maturity value of recurring deposit accounts of monthly instalment of Rs. $10$ )

60

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61

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62

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63

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Solution

The correct option is A $60$
The maturity value of Rs. $10$ deposit per month for $60$ months is $400.1435$ .
Therefore, for monthly installment $10 \times 40$ , then maturity amount is Rs. $400.1435$ which is very near to Rs. $40000$ .
Here the number of installments $= 60$ .

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If the maturity amount in a recurring deposit account is Rs. 40000 and monthly installments is Rs. 400, find the number of installments. (Maturity value of recurring deposit accounts of monthly instalment of Rs. 10)

The correct option is A 60The maturity value of Rs. 10 deposit per month for 60 months is 400.1435.Therefore, for monthly installment 10×40, then maturity amount is Rs. 400.1435 which is very near to Rs. 40000.Here the number of installments =60.

If the maturity amount in a recurring deposit account is Rs. $40000$ and monthly installments is Rs. $400$ , find the number of installments. (Maturity value of recurring deposit accounts of monthly instalment of Rs. $10$ )

The correct option is A $60$
The maturity value of Rs. $10$ deposit per month for $60$ months is $400.1435$ .
Therefore, for monthly installment $10 \times 40$ , then maturity amount is Rs. $400.1435$ which is very near to Rs. $40000$ .
Here the number of installments $= 60$ .