Jitender Gupta and Divya Malik Solutions for Exercise 3: CHALLENGERS

Sneha opened a cumulative time deposit account with a bank and deposits $₹500$ $1\frac{1}{4}$ yr. If she receives$₹300$ as interest, then find the rate of interest per annum.

Dinesh opened a Recurring Deposit Account with State Bank of India. He deposited, $₹900$ per month at $7.5\%$ per annum. · He received, $₹1687.5$ as interest. Then, the time period of his deposit will be

A Recurring Deposit Account of, $₹1200$ per month has a maturity value of, $₹12440$. If the rate of interest is $8\%$ and the interest is calculated at the end of every month, then find the time of this Recurring Deposit Account.

(a) $10$ months   (b) $20$ months (c) $30$ months   (d) $50$ months

Vishal has a Recurring Deposit Account in a finance company for $1$ yr at $8\%$ per annum. If he gets $₹9390$ at the time of maturity, then how much amount per month has been invested by Vishal?

Ravi deposited $₹400$ per month in a Recurring Deposit Account for $2$ yr at $9\%$ per annum. Sonu deposited $₹400$ per month in a Recurring Deposit Account for $2\frac{1}{2}$ yr at $12\%$ per annum. Which of the following can be concluded about the interests to be paid to them on maturities of their deposits?