Formula: 1 Mark
Steps: 1 Mark
Answer: 1 Mark
Monthly instalment = Rs 150
Time = 8 months
Total amount deposited = Rs 150 × 8 = Rs 1200
Principal for one month = Monthly instalment ×n(n+1)2=150×(8(8+1))2=150×8×92=Rs5400
Interest on Rs 5400 for one month at the rate of 8% p.a. = P×R×T100
=5400×8×112×100=P×R×T100
=5400×8×112×100 = Rs 36
Amount received on maturity = Rs 1200 + Rs 36 = Rs 1,236