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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 : 14 of 52
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matured value.
Solution:  
Total money deposit in 24 months
=₹1,000×24= \text{₹}1,000 \times 24
=₹24,000= \text{₹}24,000
Matured value
=Total sum deposit+interest= \text{Total sum deposit} + \text{interest}
=₹24,000+₹1,500= \text{₹}24,000 + \text{₹}1,500
=₹25,500.= \text{₹}25,500.
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