Request a call back

Join NOW to get access to exclusive study material for best results

ICSE Class 10 Answered

how to find the no. of months in banking
Asked by yourdadisalive007 | 23 Nov, 2018, 03:48: PM
answered-by-expert Expert Answer
I assume this question is related to calculating period in terms number of months for recurring deposit calculation.
 
In recurring deposit, fixed amount is deposited for a period of n months.
 
Then period for calculating interest is considered as n(n+1)/2 months.
 
The theory behind this calculation is as follows.
 
First month deposit will be with the bank for n months
Second month deposit will be with the bank for (n-1) months
Third month deposit will be with the bank for (n-2) months
.............................................
....................................................
(n-1)th month deposit will be with the bank for 2 months
nth month deposit will be with the bank for 1 months
 
Hence total number of months is sum of  1+2+3.......+(n-1)+n  which is sum of first natural numbers.
This sum = n(n+1)/2
Answered by Thiyagarajan K | 24 Nov, 2018, 10:44: AM
ICSE 10 - Maths
Asked by ronaldlhouvum | 22 Feb, 2024, 02:42: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by kvanshulkumar613 | 20 Feb, 2024, 12:03: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by mangadoddiswarnalatha | 19 Feb, 2024, 06:03: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by salooni707 | 09 Feb, 2024, 01:08: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by krithik127.sa | 08 Feb, 2024, 08:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
3 i
question image
Asked by dasmahapatrashreetanuka | 08 Feb, 2024, 11:20: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by 7217.sejashsjr | 05 Feb, 2024, 08:10: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by chikkanna3749342 | 03 Feb, 2024, 11:21: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 10 - Maths
Asked by poorvajmanikantan | 02 Feb, 2024, 05:36: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×