Mr Narayan deep 6455 at the end of one year at the rate of 14% per ann

1.	Mr Narayan deep 6455 at the end of one year at the rate of 14% per annum in RD account find the monthly installment
Answer» Step-by-step explanation: Given Mr Narayan gets 6455 at the end of one year at the rate of 14% per annum in RD account. Find the monthly INSTALLMENT Let the principal P be m Now principal for 12 months will be = n(n + 1) / 2 m = 12 (12 + 1) / 2 = 12 x 13 / 2 = 78 m Now Interest = P [ n(n + 1) / 2 x 1/12 x R / 100] 78 m x 14 x 1 / 100 x 12 = 0.91 m Now money deposited in 12 months will be 12 m Also MATURITY value will be 12 m + 0.91 m = 12.91 m Now according to the question 12.91 m = 6455 Or m = 6455 / 12.91 Or m = RS 500 Therefore monthly installment will be Rs 500 Reference link will be brainly.in/question/4363

Mr Narayan deep 6455 at the end of one year at the rate of 14% per annum in RD account find the monthly installment

Answer»

Step-by-step explanation:

Given Mr Narayan gets 6455 at the end of one year at the rate of 14% per annum in RD account. Find the monthly INSTALLMENT

Let the principal P be m
Now principal for 12 months will be = n(n + 1) / 2 m
= 12 (12 + 1) / 2
= 12 x 13 / 2
= 78 m
Now Interest = P [ n(n + 1) / 2 x 1/12 x R / 100]
78 m x 14 x 1 / 100 x 12
= 0.91 m
Now money deposited in 12 months will be 12 m
Also MATURITY value will be 12 m + 0.91 m
= 12.91 m
Now according to the question
12.91 m = 6455
Or m = 6455 / 12.91
Or m = RS 500

Therefore monthly installment will be Rs 500

Reference link will be

brainly.in/question/4363

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Mr Narayan deep 6455 at the end of one year at the rate of 14% per annum in RD account find the monthly installment

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