Monthly 1 lakh using Bank RD 22000 per month- Possible ?

#11
In second year you pay 14000 per month +Rs 1000 tax then you get Rs 1 lakh at end of 2nd year which the maturity amount of 2 yr deposit..how you get 1lakh per month ?

..........same for subsequent years....

ST
Because you have 1 RD maturing every month for the next 10 years !!

Code:
	Month	Paid to Bank	Amount Matured
1	01-01-17	21936	
2	01-02-17	21936	
3	01-03-17	21936	
4	01-04-17	21936	
5	01-05-17	21936	
6	01-06-17	21936	
7	01-07-17	21936	
8	01-08-17	21936	
9	01-09-17	21936	
10	01-10-17	21936	
11	01-11-17	21936	
12	01-12-17	21936	
13	01-01-18	13891	100000
14	01-02-18	13891	100000
15	01-03-18	13891	100000
16	01-04-18	13891	100000
17	01-05-18	13891	100000
18	01-06-18	13891	100000
19	01-07-18	13891	100000
20	01-08-18	13891	100000
21	01-09-18	13891	100000
22	01-10-18	13891	100000
23	01-11-18	13891	100000
24	01-12-18	13891	100000
25	01-01-19	9896	100000
26	01-02-19	9896	100000
27	01-03-19	9896	100000
28	01-04-19	9896	100000
29	01-05-19	9896	100000
30	01-06-19	9896	100000
31	01-07-19	9896	100000
32	01-08-19	9896	100000
33	01-09-19	9896	100000
34	01-10-19	9896	100000
35	01-11-19	9896	100000
36	01-12-19	9896	100000
37	01-01-20	7385	100000
38	01-02-20	7385	100000
39	01-03-20	7385	100000
40	01-04-20	7385	100000
41	01-05-20	7385	100000
42	01-06-20	7385	100000
43	01-07-20	7385	100000
44	01-08-20	7385	100000
45	01-09-20	7385	100000
46	01-10-20	7385	100000
47	01-11-20	7385	100000
48	01-12-20	7385	100000
49	01-01-21	5560	100000
50	01-02-21	5560	100000
51	01-03-21	5560	100000
52	01-04-21	5560	100000
53	01-05-21	5560	100000
54	01-06-21	5560	100000
55	01-07-21	5560	100000
56	01-08-21	5560	100000
57	01-09-21	5560	100000
58	01-10-21	5560	100000
59	01-11-21	5560	100000
60	01-12-21	5560	100000
61	01-01-22	4150	100000
62	01-02-22	4150	100000
63	01-03-22	4150	100000
64	01-04-22	4150	100000
65	01-05-22	4150	100000
66	01-06-22	4150	100000
67	01-07-22	4150	100000
68	01-08-22	4150	100000
69	01-09-22	4150	100000
70	01-10-22	4150	100000
71	01-11-22	4150	100000
72	01-12-22	4150	100000
73	01-01-23	3015	100000
74	01-02-23	3015	100000
75	01-03-23	3015	100000
76	01-04-23	3015	100000
77	01-05-23	3015	100000
78	01-06-23	3015	100000
79	01-07-23	3015	100000
80	01-08-23	3015	100000
81	01-09-23	3015	100000
82	01-10-23	3015	100000
83	01-11-23	3015	100000
84	01-12-23	3015	100000
85	01-01-24	2075	100000
86	01-02-24	2075	100000
87	01-03-24	2075	100000
88	01-04-24	2075	100000
89	01-05-24	2075	100000
90	01-06-24	2075	100000
91	01-07-24	2075	100000
92	01-08-24	2075	100000
93	01-09-24	2075	100000
94	01-10-24	2075	100000
95	01-11-24	2075	100000
96	01-12-24	2075	100000
97	01-01-25	1280	100000
98	01-02-25	1280	100000
99	01-03-25	1280	100000
100	01-04-25	1280	100000
101	01-05-25	1280	100000
102	01-06-25	1280	100000
103	01-07-25	1280	100000
104	01-08-25	1280	100000
105	01-09-25	1280	100000
106	01-10-25	1280	100000
107	01-11-25	1280	100000
108	01-12-25	1280	100000
109	01-01-26	595	100000
110	01-02-26	595	100000
111	01-03-26	595	100000
112	01-04-26	595	100000
113	01-05-26	595	100000
114	01-06-26	595	100000
115	01-07-26	595	100000
116	01-08-26	595	100000
117	01-09-26	595	100000
118	01-10-26	595	100000
119	01-11-26	595	100000
120	01-12-26	595	100000
So basically you are opening 10 RDs every month for the first year, and letting them mature in their own term.
 
#12
"Daya.....daal mein kuchh kaala hain"......

1st month you opened 10 RDs and paid To bank...in second month again 10 RD so Rs 21936 as instalment of first month 10 RDs plus another 21936 for 10 RDs opened in second month......in 3rd month 10 more RDs so Rs 21936+Rs 21936 + Rs 21936......it continues in arithmatical progression.....so assuming a round figure of Rs 22000 pm you will pay total of Rs 17,16,000 in one year...

ST
 
Last edited:
#13
Yes, found the mistake. It will break even in 43 months :(
"Daya.....daal mein kuchh kaala hain"......

1st month you opened 10 RDs and paid To bank...in second month again 10 RD so Rs 21936 as instalment of first month 10 RDs plus another 21936 for 10 RDs opened in second month......in 3rd month 10 more RDs so Rs 21936+Rs 21936 + Rs 21936......it continues in arithmatical progression.....so assuming a round figure of Rs 22000 pm you will pay total of Rs 17,16,000 in one year...

ST