11 Samita has a recurring deposit account in a bank of 2000 per month

1.	11 Samita has a recurring deposit account in a bank of 2000 per month at the rate of10% pa. If she gets?83100 at the time of maturity, find the total time for which theaccount was held.Hint.Let the account be held for x months, then+ 2000 x r(r.1)X-102×12 1002000 χ
Answer» Given Monthly installment = 2000Maturity value = 83100R = 10% Now let time for which account was held be x Then,2000x + 2000x(x+1)/(212) * (10/100) = 83100 2000(x + x(x+1)/240) = 83100 20(240x + x^2 + x) = 831240 x^2 + 241x - 83112 = 0 x^2 + 241x - 9972 = 0 x^2 + 277x - 36x - 9972 = 0 x(x + 277) - 36(x + 277) = 0 (x - 36)(x + 277) = 0 x = 36, - 277 Negative value not possible Therefore, account was held for 36 months.

11 Samita has a recurring deposit account in a bank of 2000 per month at the rate of10% pa. If she gets?83100 at the time of maturity, find the total time for which theaccount was held.Hint.Let the account be held for x months, then+ 2000 x r(r.1)X-102×12 1002000 χ

Answer»

Given Monthly installment = 2000Maturity value = 83100R = 10%

Now let time for which account was held be x

Then,2000x + 2000*x(x+1)/(2*12) * (10/100) = 83100

2000(x + x(x+1)/240) = 83100

20(240x + x^2 + x) = 831*240

x^2 + 241x - 831*12 = 0

x^2 + 241x - 9972 = 0

x^2 + 277x - 36x - 9972 = 0

x(x + 277) - 36(x + 277) = 0

(x - 36)(x + 277) = 0

x = 36, - 277

Negative value not possible

Therefore, account was held for 36 months.