1. Sohan Lal invests Rs 300 per month for 1 year in a Recurring Deposi

1.	1. Sohan Lal invests Rs 300 per month for 1 year in a Recurring Deposit Account withSyndicate Bank. If the rate of interest be 6% per annum, calculate the amount that he wilget at the time of maturity
Answer» Installment per month (P) = 300Number of months (n) = 12Rate of Interest (r) = 6% Then,SI = P * n(n+1)/212 r/100 = 300 * 12(13)/24 * 6/100 = 300 * 13/2 * 6/100 = 139 = 117 The amount Sohan lal will get at the time of Maturity = 30012 + 117= 3600 + 117= Rs 3717

1. Sohan Lal invests Rs 300 per month for 1 year in a Recurring Deposit Account withSyndicate Bank. If the rate of interest be 6% per annum, calculate the amount that he wilget at the time of maturity

Answer»

Installment per month (P) = 300Number of months (n) = 12Rate of Interest (r) = 6%

Then,SI = P * n(n+1)/2*12 * r/100 = 300 * 12(13)/24 * 6/100 = 300 * 13/2 * 6/100 = 13*9 = 117

The amount Sohan lal will get at the time of Maturity = 300*12 + 117= 3600 + 117= Rs 3717