Amit opened a recurring deposit account for 10 months. The rate of int

1.	Amit opened a recurring deposit account for 10 months. The rate of interest is 8%per annum and Amit receives Rs. 221 as interest at the time of maturity. Find theamount Amit deposited each month.
Answer» Answer: Rs. 603 Step-by-step explanation : Given, n = 10 months r = 8% p.a. I = Rs. 221 To FIND, PRINCIPAL AMOUNT (P) Solution, $I = \frac{P * n(n+1) * r}{2 * 12 * 100}$ $221 = \frac{P * 10 * 11 * 8}{2 * 12 * 100}$ $P = \frac{221 * 2 * 12 * 100}{10 * 11 * 8}$ $P = Rs. 602.72$ THEREFORE, P = Rs. 603