Same chapter4 marksDifficulty: Medium
A recurring deposit of ₹400 per month runs for 5 years at 8% per annum. Find the interest and the maturity value.
Banking
3 marksDifficulty: Medium
Find the number of months for which ₹2,000 must be deposited each month at 7% per annum for the interest to be ₹910.
Original Khojo Papers practice question — not from a past board paper.
Answer
12 months
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
Interest = 2,000 × n(n+1)/2 × 7/1200 = 910 gives n(n+1) = 910 × 2 × 1200 ÷ (2,000 × 7) = 156, so n = 12.
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