ICSE Class 10 Answered
Shika opened a recurring deposit account at 2000rs per month at 11 % pa . If she gets rs 83100 at the time of maturity find the maturity period
Asked by abhi611 | 17 Apr, 2018, 10:08: AM
Expert Answer
According to the question P = Rs. 2000, r = 11%, Maturity value = Rs. 83100
Maturity value = 83100
pn + pn(n+1)/24 × r/100 = 83100
After puting values in the above equation you get
11n2 + 2411n - 99720 = 0
Solving this quadratic equation you will get the answer.
Answered by Sneha shidid | 17 Apr, 2018, 02:34: PM
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