( 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

( 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 (b) Rekha opened a rec urring deposi t ac count fo r 20 months The rate Of interest is 90/0 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.

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 =P*n(n+1)*r2*12*100

or, 

P = I*2*12*100n(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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