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ICSE Class 10 Answered

sonia has a rewcurring deposite account in a bank and deposioted rs 600 per month for 2 1/2 years . if the rate of intrest was 10% p.a. , find the maturity value of this account  
Asked by 256055488602306 | 17 Nov, 2018, 08:22: PM
answered-by-expert Expert Answer
According to the question,

P = Rs. 600, r = 10% p. a., n = 2.5 years = 30 months
begin mathsize 16px style Maturity space value space equals Pn plus straight P cross times fraction numerator straight n open parentheses straight n plus 1 close parentheses over denominator 2 end fraction cross times straight r over 1200
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals 600 cross times 30 plus 600 cross times fraction numerator 30 open parentheses 30 plus 1 close parentheses over denominator 2 end fraction cross times 10 over 1200
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space Rs. space 20325 end style
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