# ( Rekha opened a recurring deposit account for 20 months. The rate of interest is 99% per annum and Rekha receives 441 as interest at the time of maturity. Find the amount Rekha deposited each month. Use a graph sheet for this question. Take 1 cm ni

Dear Student,

Given:

number of months(n) = 20

rate(r) = 9% p.a.

Interest(I) = Rs. 441

Principal(P) = ?

We know, for recurring deposit,'

$I=\frac{P*n(n+1)*r}{2*12*100}$

or,

$P=\frac{I*2*12*100}{n(n+1)*r}$

Therefore, P = (441*2*12*100) / (20 * 21 * 9) = 28

So, Rekha deposited Rs. 28 per month

I hope you understood.

Regards

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