Answer:
Chapter 1 - India-Size and Location.
Chapter 2 - Physical Features of India.
Chapter 3 - Drainage.
Chapter 4 - Climate.
Chapter 5 - Natural Vegetation and Wildlife.
Chapter 6 - Population.\large\underline{\sf{Solution-}}
Solution−
Given that,
Amounts deposited in bank every month, P = Rs 100
Rate of interest, r = 5 % per annum
Time period = 5 years
So,
Number of instâllments, n = 12 × 5 = 60
We know,
Maturity Value (MV) received on a certain sum of money of Rs P deposited every month at the rate of r % per annum for n months is given by
\begin{gathered} \bold{{\boxed{\text{MV} = \text{nP} + \text{P} \times \dfrac{ \text{n(n + 1)}}{24} \times \dfrac{ \text{r}}{100} }}} \\ \end{gathered}
MV=nP+P×
24
n(n + 1)
×
100
r
So, on substituting the values of n, P and r, we get
\begin{gathered}\rm \: \text{MV} = {60 \times 100} + 100 \times \dfrac{ 60(60 + 1)}{24} \times \dfrac{{5}}{100}\\ \end{gathered}
MV=60×100+100×
60(60+1)
5
\begin{gathered}\rm \: \text{MV} = 6000 + \dfrac{ 5(60 + 1)}{2} \times 5\\ \end{gathered}
MV=6000+
2
5(60+1)
×5
\begin{gathered}\rm \: \text{MV} = 6000 + \dfrac{ 25 \times 61}{2}\\ \end{gathered}
25×61
\begin{gathered}\rm \: \text{MV} = 6000 +762.50\\ \end{gathered}
MV=6000+762.50
\begin{gathered}\rm\implies \:\boxed{ \bf{ \:MV \: = \: Rs \: 6762.50 \: \: }} \\ \end{gathered}
⟹
MV=Rs6762.50
So, Manoj will get Rs 6762.50 on the maturity after 5 years.
\rule{190pt}{2pt}
Additional Information :-
Interest (l) received on a certain sum of money of Rs P deposited every month at the rate of r % per annum for n months is given by
\begin{gather
Copyright © 2024 EHUB.TIPS team's - All rights reserved.
Answers & Comments
Verified answer
Answer:
Chapter 1 - India-Size and Location.
Chapter 2 - Physical Features of India.
Chapter 3 - Drainage.
Chapter 4 - Climate.
Chapter 5 - Natural Vegetation and Wildlife.
Chapter 6 - Population.\large\underline{\sf{Solution-}}
Solution−
Given that,
Amounts deposited in bank every month, P = Rs 100
Rate of interest, r = 5 % per annum
Time period = 5 years
So,
Number of instâllments, n = 12 × 5 = 60
We know,
Maturity Value (MV) received on a certain sum of money of Rs P deposited every month at the rate of r % per annum for n months is given by
\begin{gathered} \bold{{\boxed{\text{MV} = \text{nP} + \text{P} \times \dfrac{ \text{n(n + 1)}}{24} \times \dfrac{ \text{r}}{100} }}} \\ \end{gathered}
MV=nP+P×
24
n(n + 1)
×
100
r
So, on substituting the values of n, P and r, we get
\begin{gathered}\rm \: \text{MV} = {60 \times 100} + 100 \times \dfrac{ 60(60 + 1)}{24} \times \dfrac{{5}}{100}\\ \end{gathered}
MV=60×100+100×
24
60(60+1)
×
100
5
\begin{gathered}\rm \: \text{MV} = 6000 + \dfrac{ 5(60 + 1)}{2} \times 5\\ \end{gathered}
MV=6000+
2
5(60+1)
×5
\begin{gathered}\rm \: \text{MV} = 6000 + \dfrac{ 25 \times 61}{2}\\ \end{gathered}
MV=6000+
2
25×61
\begin{gathered}\rm \: \text{MV} = 6000 +762.50\\ \end{gathered}
MV=6000+762.50
\begin{gathered}\rm\implies \:\boxed{ \bf{ \:MV \: = \: Rs \: 6762.50 \: \: }} \\ \end{gathered}
⟹
MV=Rs6762.50
So, Manoj will get Rs 6762.50 on the maturity after 5 years.
\rule{190pt}{2pt}
Additional Information :-
Interest (l) received on a certain sum of money of Rs P deposited every month at the rate of r % per annum for n months is given by
\begin{gather