Advertisements
Advertisements
प्रश्न
Mrs. Chhabra deposits Rs 500 per month in a recurring deposit account for 4 years at a simple interest rate of 6% pa.
(a) Find the maturity value of deposit.
(b) Find the total interest she will earn after 2 years
उत्तर
Given that recurring deposit per month =Rs 500, Period= 4 years = 48 Months, R=6 %
Money deposited= Monthly value x No of Months
= 500 x 48 = Rs 24,000 ...... (1)
Total Principal for 1 Month= Rs `(500 xx (48) (48 + 1))/2` = Rs 588000
Interest = Rs `(6 xx 588000)/(12 xx 100)` = Rs 2940 ..........(2)
Hence Maturity Amount= (1) + (2)
=Rs (24,000 + 2,940)
Hence Maturity Amount= Rs 26,940
And Interest = Rs 2,940
APPEARS IN
संबंधित प्रश्न
Manish opens a Recurring Deposit Account with the Bank of Rajasthan and deposits Rs. 600 per month for 20 months. Calculate the maturity value of this account, if the bank pays interest at the rate of 10% per annum.
Deepa has a 4-year recurring deposit account in a bank and deposits Rs 1,800 per month. If she gets Rs 1,08,450 at the time of maturity, find the rate of interest.
Given below are the entries in a saving Bank A/C pass book:
| Date | Particulars | Withdrawals | Deposits | Balance |
| Feb 8 Feb 18 April 12 June 15 July 8 |
B/F To self By Cash To Self By Cash |
- Rs. 4,000 - Rs. 5,000 - |
- - Rs. 2,230 - Rs. 6,000 |
Rs. 8,500 4500 6730 1730 7730 |
Calculate the interest for 6 months from February to July at 6% per annum.
A page from the passbook of Mr. Rohit is given below. The interest accrued for the period January to December 2006 at a certain rate of interest per annum is Rs. 377.40. without taking the principal as the nearest multiple of Rs. 10, calculate the rate:
| Date | Particulars | Debit (Rs) | Credit (Rs) | Balance (Rs) |
| 2006 | ||||
| Jan 1 | Balance B/F | 7,500.00 | ||
| March 7 | By Cheque | 1,875.00 | ||
| March 10 | By Cash | 625.00 | ||
| July 17 | To self | 3,250.00 | ||
| Oct 5 | By Cheque | 2,160.00 | ||
| Dec 19 | To Cheque | 1,340.00 |
Mr. Richard has a recurring deposit account in a post office for 3 years at 7.5% p.a. simple interest. If he gets Rs. 8,325 as interest at the time of maturity, find:
- the monthly instalment.
- the amount of maturity.
If Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month for years, then the total money deposited in the account is
John deposited Rs 400 every month in a bank’s recurring deposit account for `2(1)/(2)` years. If he gets Rs 1085 as interest at the time of maturity, then the rate of interest per annum is
Ankita started paying Rs 400 per month in a 3 years recurring deposit. After six months her brother Anshul started paying Rs 500 per month in a `2(1)/(2)` years recurring deposit. The bank paid 10% p.a. simple interest for both. At maturity who will get more money and by how much?
Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for `4(1)/(2)` years at 11% p.a. (simple interest). If he gets Rs 101418.75 at the time of maturity, find the monthly installment.
A certain money is deposited in a recurring deposit account for 15 months. If the interest earned for this deposit is one-fifth of the monthly instalment; the rate of interest is ______.
