1.

A man has a Recurring Deposit Account in abank for 3/2 years. If the rate of interest is 12%per annum and the man gets * 10,206 onmaturity, find the value of monthly instalments.​

Answer»

ANSWER:

Step-by-step explanation:

N=3/2 year=18 months

r=12%

M.V=10206

P=?

M.V=p*n+p*(n(n+1)/2*12)*r/100 10206=18p+p* (18*19/2*12)*12/100

10206 =18p+1.71p

19.71p=10206

p=517.81



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