ICSE Class X Math 2016 Solved Paper

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets ₹1200 as interest at the time of maturity, find :

Question : 45

Total: 57

the monthly instalment

Solution:

Here, n= the number of months for which the money is deposited = 2×12=24.
r=6%,I=₹1,200
Let the monthly instalment be ₹x, then P=Fx
Using the formula S.I.
‌=P×‌

n(n+1)

2×12

×‌

100

1,200‌=‌

x×24×25

2×12

×‌

100

‌

x‌=1,200
‌⇒‌‌x=₹800
Hence monthly instalment =₹800

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