Mahesh deposits Rs. 600 per month in a recurring deposit account for 2 years at 5 % p.a.. Find the amount he recieves at the time of maturity.

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Solution

Here, $P = R s . 600$
$N = 2 \times 12$ months and $R = 5$ % $p . a .$
$S I = P \times \frac{n (n + 1)}{2} \times \frac{1}{12} \times \frac{R}{100}$

$S I = 600 \times \frac{24 (25)}{2} \times \frac{1}{12} \times \frac{5}{100} = 750$

The total amount = $(24 \times 600) + 750 = 15, 150$ Rs.

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Mahesh deposits Rs. 600 per month in a recurring deposit account for 2 years at 5 % p.a.. Find the amount he recieves at the time of maturity.

Here, P=Rs.600N=2×12 months and R=5 % p.a.SI=P×n(n+1)2×112×R100SI=600×24(25)2×112×5100=750The total amount = (24×600)+750=15,150 Rs.

Here, $P = R s . 600$
$N = 2 \times 12$ months and $R = 5$ % $p . a .$
$S I = P \times \frac{n (n + 1)}{2} \times \frac{1}{12} \times \frac{R}{100}$

$S I = 600 \times \frac{24 (25)}{2} \times \frac{1}{12} \times \frac{5}{100} = 750$

The total amount = $(24 \times 600) + 750 = 15, 150$ Rs.