Q.1 sonya deposits 300 per month at 8 % p.a. in a bank and recieves  rs 4740 on maturirty of the account . find the total time the account is held .

plz sir / mam canu  solve this q step by step

Asked by abhi611 | 18th Apr, 2019, 07:53: PM

Expert Answer:

P = Rs. 300, r = 8% p.a., Maturity value = Rs. 4740
begin mathsize 16px style Maturity space value space equals Pn plus fraction numerator Pn open parentheses straight n plus 1 close parentheses straight r over denominator 24 cross times 100 end fraction
4740 equals 300 straight n plus fraction numerator 300 straight n open parentheses straight n plus 1 close parentheses cross times 8 over denominator 24 cross times 100 end fraction
300 straight n plus straight n left parenthesis straight n plus 1 right parenthesis equals 4740
300 straight n plus straight n squared plus straight n equals 4740
straight n squared plus 301 straight n minus 4740 equals 0
left parenthesis straight n plus 316 right parenthesis left parenthesis straight n minus 15 right parenthesis equals 0
straight n not equal to negative 316 space hence space straight n equals 15
For space the space period space of space 15 space months space account space is space held. end style

Answered by Sneha shidid | 19th Apr, 2019, 09:34: AM