. Mr. R. K. Nair gets Rs. 6455 at the end of one year at the rate of 14% per annum in a recurringdeposit account. Find the monthly installment.

To solve this problem, we need to use the formula for the amount in a recurring deposit account, which is:

A = P * [n(n+1)/2] * r/12/100 + P*n

Where: A = the total amount after n months P = the monthly installment n = the number of months r = the rate of interest per annum

In this case, we know that A = Rs. 6455, n = 12 months (since it's one year), and r = 14% per annum. We need to find P.

Substituting the known values into the formula, we get:

6455 = P * [12(12+1)/2] * 14/12/100 + P*12

Solving this equation will give us the value of P, which is the monthly installment.

Let's simplify the equation:

6455 = P * [78] * 14/12/100 + P12 6455 = P * 7.8 + P12 6455 = P * 19.8

Now, divide both sides of the equation by 19.8 to solve for P:

P = 6455 / 19.8 P = Rs. 326 approximately

So, the monthly installment Mr. R. K. Nair needs to pay is approximately Rs. 326.