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प्रश्न
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7,725 at the time of maturity, find the rate of interest per annum.
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7725 at the time of maturity, find the rate of interest per annum. (2008)
उत्तर १
Instalment per month (P) = Rs. 300
Number of months (n) = 24
Let rate of interest (r) = r% p.a
∴ `S.I. = P xx (n(n + 1))/(2 xx 12) xx r/100`
= `300 xx (24(24 + 1))/(2 xx 12) xx r/100`
= `300 xx 600/24 xx r/100`
= Rs. (75)r
Maturity value = Rs. (300 × 24) + Rs. (75)r
Given maturity value = Rs. 7,725
Then Rs. (300 × 24) + Rs. (75)r = Rs. 7,725
⇒ 75r = Rs. 7,725 – Rs. 7,200
⇒ r = `525/75` = 7%
उत्तर २
Deposit during one month (P) = Rs. 300
Period = 2 years = 24 months.
Maturity value = Rs. 7725
Let R be the rate percent, then
Now principal for 1 month
= `(P xx n(n + 1))/(2)`
= `(300 xx 24(24 + 1))/(2)`
= `(300 xx 24 xx 25)/(2)`
= Rs. 90000
∴ Interest earned
= `(PRT)/(100)`
= `(90000 xx R xx 1)/(100 xx 12)`
= 75R
Now 300 × 24 + 75R = 7725
⇒ 7200 + 75R = 7725
⇒ 75R
= 7725 – 7200
= 525
⇒ R = `(525)/(75)` = 7
∴ Rate of Interest = 7% p.a.
संबंधित प्रश्न
Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If the bank pays interest at the rate 6% per annum and the monthly instalment is Rs. 1,000, find the:
- Interest earned in 2 years.
- Matured value.
A page from a passbook of savings bank account is given below:
| Date | Particulars | Amount Withdrawn (In Rs) |
Amount Deposits (In Rs) |
Balance (In Rs) |
| 09.08.1999 11.08.1999 05.10.1999 10.10.1999 27.11.1999 29.11.1999 |
By Cash By Cheque To Cheque By Cash By Cheque By Cash |
- - 12,000 - 5,000 - |
10,000 5,000 - 17,000 - 3,000 |
10,000 15,000 3,000 20,000 15,000 18,000 |
The account is closed on 2nd Jan, 2000. Find the amount received, if the rate of interest is 5%
Mr. Patel deposit Rs 2,250 per month in a recurring deposit account for a period of 3 years. At the time of maturity, he gets Rs 90,990.
(a) Find the rate of simple interest per annum.
(b) Find the total interest earned by Mr. Patel.
Mohan saves Rs. 25 per month from his pocket allowance and puts this saving every month in a bank recurring deposit scheme for a period of 72 months at 5.25%. What amount does he get on maturity?
Using R.D., table calculate the values of a R.D., account of Rs. 80 for period of 9 months @ 11.5% p. a.
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Suresh has joined a factory which pays wages by cheque only. He opens a S.B. account on Feb. 1, and his passbook has the following entries Upto 1st April of the year.
| Date | Particulars | Withdrawals(₹) | Deposits(₹) | Balance(₹) |
| Feb. 1 | By cash | - | 50·00 | 50·00 |
| Feb. 2 | By salary | - | 1,000·00 | 1,050·00 |
| Feb. 4 | To withdrawn slip | 200·00 | - | 850·00 |
| Feb. 15 | By overtime allowance | - | 300·00 | 1,150·00 |
| Feb. 24 | To Aslam | 100·00 | - | 1,050·00 |
| March 1 | By salary | - | 1,000·00 | 2,050·00 |
| March 7 | To cheque no. 212 | 500·00 | - | 1,550·00 |
| March 21 | To cheque no. 213 | 700·00 | - | 850·00 |
| March 27 | To self | 400·00 | - | 450·00 |
| Apr. 1 | By salary | - | 1,000·00 | 1,450·00 |
| Apr. 11 | By interest | - | - | - |
He closes the account on 11th April. Complete the entries for 11th April at the rate of 5%
Given the following details, calculate the simple interest at the rate of 6% per annum up to June, 30:
| Date | Debit (in ₹) | Credit (in ₹) | Balance (in ₹) |
| January 1 | - | 24,000·00 | 24,000·00 |
| January 20 | 5,000·00 | - | 19,000·00 |
| January 29 | - | 10,000·00 | 29,000·00 |
| March 15 | - | 8,000·00 | 37,000·00 |
| April 3 | - | 7,653·00 | 44,653·00 |
| May 6 | 3,040·00 | - | 41,613·00 |
| May 8 | - | 5,087·00 | 46,700·00 |
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- the total interest Salman earns.
- the rate of interest.
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