1(ii)
Radha deposited ₹400 per month in a recurring deposit account for 18 months. The qualifying sum of money for the calculation of interest is∶
- (a)₹ 3,600
- (b)₹ 7,200
- (c)₹ 68,400
- (d)₹ 1,36,800
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Given,
P = ₹ 400
n = 18 months
By formula,
Qualifying Sum = $P \times \frac{n(n + 1)}{2}$
= $400 \times \frac{18(18 + 1)}{2}$
= 400 × 9 × 19
= 400 × 171
= ₹ 68,400
Hence, option 3 is the correct option.