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ICSE Class X Math 2015 Paper

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Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If the bank pays interest at the rate of 6%6 \% per annum and the monthly instalment is ₹1,000\text{₹} 1,000 , find the :
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Question : 13 of 52
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interest earned in 2 years.
Solution:  
     Given   :P=₹1,000,  n=2   year =24\;\; \text{ Given }\;: P=\text{₹} 1,000,\; n=2 \; \text{ year } =24
     months,   r=6%  .   \;\; \text{ months, }\; r=6\% \; \text{. }\;
    I  =P×  n(n+1)2×  r12×100\;\; I\; = P \times\; \frac{n(n+1)}{2} \times\; \frac{r}{12 \times 100}
  =1,000×  24(24+1)2×  612×100\; = 1,000 \times\; \frac{24(24+1)}{2} \times\; \frac{6}{12 \times 100}
  =1,000×  24×252×  612×100\; = 1,000 \times\; \frac{24 \times 25}{2} \times\; \frac{6}{12 \times 100}
  =₹1,500.\; = \text{₹} 1,500 .
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