Question

Vishal has a recurring deposit accunt in a finance company for 1 year at an iterest rate of `8%` per annum. If he receives Rs.9390 at the time of maturity, then what amount, per month, ws invested by Vishal?
A. Rs. 650
B. Rs. 700
C. Rs. 750
D. Rs. 800

Answer 1

Correct Answer - C
(i) Use, `SI=(Pxxn(n+1))/(2)xx(R)/(1200).`
(ii) Let the amount deposited per month be Rs. P. Amount `A=Rs.9390, SI=9390-P.`
(iii) Use, `9390=P+(pxxn(n+1))/(2)xx(R)/(100)` to find P.