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UP TGT Mathematics commercial mathematics Test Series - Part 1

An RD account of Rs. 1,000 per month yields a maturity value of Rs. 26,850 at 9% p.a. simple interest. Find the time per...

Type: MCQ • Marks: 1
An RD account of Rs. 1,000 per month yields a maturity value of Rs. 26,850 at 9% p.a. simple interest. Find the time period of the account in months.
Options
A. 1) 20 months
B. 2) 24 months
C. 3) 22months
D. 4) 26 months
Explanation
Total Principal = 1000 n. Interest = 1000 * n(n+1) * 9 / 2400 = 3.75 n(n+1). 1000 n + 3.75 n(n+1) = 26850 => 3.75 n^2 + 1003.75 n - 26850 = 0. For n = 24: Principal = 24,000, Interest = 3.75 * 24 * 25 = Rs. 2,850. Maturity = 24000 + 2850 = Rs. 26,850.
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