Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of 10% p.a.

Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of 10% p.a. If she gets Rs 83100 at the time of maturity. Find the total time for which the account was held.

Solution:

Deposit per month = Rs 2000,
Rate of interest = 10%, Let period = n months
ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q11.1
ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q11.2

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