Dear Student, Solution) Maturity Value=7725Number of Months(n)=24Amount deposited each month(P)=300Let rate of interest be r%Maturity Value=Pn+Prn(n+1)24007725=300(24)+300r24(24+1)24007725=7200+300r24×252400525=300r24×252400r=525×2400300×24×25r=7% Regards!

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Solution)

M a t u r i t y V a l u e = 7725 N u m b e r o f M o n t h s (n) = 24 A m o u n t d e p o s i t e d e a c h m o n t h (P) = 300 L e t r a t e o f i n t e r e s t b e r % M a t u r i t y V a l u e = P n + P r \frac{n (n + 1)}{2400} 7725 = 300 (24) + 300 r \frac{24 (24 + 1)}{2400} 7725 = 7200 + 300 r \frac{24 \times 25}{2400} 525 = 300 r \frac{24 \times 25}{2400} r = \frac{525 \times 2400}{300 \times 24 \times 25} r = 7 %

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