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ICSE Class 10 Answered

Deposit amount Rs.1000/month Rate of interest 10% p.a Interest received at maturity Rs.5550 How to calculate period of investment
Asked by pramod1970.2015 | 30 Mar, 2020, 03:03: PM
Expert Answer
Interest space at space maturity equals straight P cross times fraction numerator straight n open parentheses straight n plus 1 close parentheses over denominator 24 end fraction cross times straight r over 100
straight P equals 1000
straight r equals 10
Interest equals 5550

5550 equals 1000 cross times fraction numerator straight n open parentheses straight n plus 1 close parentheses over denominator 24 end fraction cross times 10 over 100
straight n equals 36 space months
Answered by Arun | 01 Apr, 2020, 10:13: AM

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