ICSE Class 10 Answered
Mr thomas has a 4 years cumulative time deposits accounts in corporation Bank and deposits rs 650 per month if he receives rs 36296 at the time of maturity finf-
1. The total interest earned by mr thomas.
2. The rate of interest per annum.
Asked by Dipshikaparajuli | 15 Jun, 2019, 21:32: PM
P = Rs. 650, n = 4 years = 48 months, A = Rs. 36296
![begin mathsize 16px style straight A equals Pn plus fraction numerator Pn left parenthesis straight n plus 1 right parenthesis over denominator 12 cross times 2 end fraction cross times straight r over 100 end style](https://images.topperlearning.com/topper/tinymce/cache/c3412f403eb5d24382efb384102e31a2.png)
36296 = 650 × 48 + 650 × 48 × 49 × r/2400
5096 = 637r
r = 8% p. a.
Hence, the arte of interest is 8% p.a.
Interest = ![begin mathsize 16px style fraction numerator Pn left parenthesis straight n plus 1 right parenthesis over denominator 12 cross times 2 end fraction cross times straight r over 100 end style](https://images.topperlearning.com/topper/tinymce/cache/0b445b44c29aefcef66eef5eba2f0141.png)
![begin mathsize 16px style fraction numerator Pn left parenthesis straight n plus 1 right parenthesis over denominator 12 cross times 2 end fraction cross times straight r over 100 end style](https://images.topperlearning.com/topper/tinymce/cache/0b445b44c29aefcef66eef5eba2f0141.png)
= 650 × 48 × 49 × 8/2400
= Rs. 5096
Answered by Sneha shidid | 17 Jun, 2019, 10:10: AM
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