Anil opened a recurring deposit account with Axis Bank for n year .He deposited Rs 800 in every month.The bank paid him Rs 10784n on maturity The rate of interest was 8% per annum .Find nA. 3B. 2.5C. 2D. 3.5

Anil opened a recurring deposit account with Axis Bank for n year .He

1.	Anil opened a recurring deposit account with Axis Bank for n year .He deposited Rs 800 in every month.The bank paid him Rs 10784n on maturity The rate of interest was 8% per annum .Find nA. 3B. 2.5C. 2D. 3.5
Answer» Correct Answer - a Time period = 12n months `SI(in Rs) =800((12n)(12n+1))/(2)(1/12)(8/100)` `=32n (12n+1) Amount paid by the bank (in Rs) =(12n)(800)+32n(12n+1) =960n+32n(12n+1) Given ,9600 n + 32n (12n+1) `rarr 32n(12n+1)=10.784n=1184n` `rarr 12n+1=37rarr n=3`

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Anil opened a recurring deposit account with Axis Bank for n year .He deposited Rs 800 in every month.The bank paid him Rs 10784n on maturity The rate of interest was 8% per annum .Find nA. 3B. 2.5C. 2D. 3.5

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