Final answer:
To calculate the maturity value of Ayush's recurring deposit, we need to know the duration of the deposit.
Step-by-step explanation:
To calculate the maturity value of Ayush's recurring deposit (RD) with a monthly deposit of 500 at a rate of interest of 10 percent per annum, we need additional information such as the duration of the deposit, which is not provided in the question. Typically, the formula to find the maturity value of an RD is:
M = P * [ (n*(n+1)/2) * r/12 ] / 100 + nP,
where M is the maturity value, P is the monthly installment, n is the number of months, and r is the annual interest rate. Since the duration (n) is not given, we cannot accurately calculate the maturity value.
If we hypothetically considered a duration, we could apply the formula. For example, if the duration were 10 years (or 120 months), the calculation would involve plugging these values into the RD formula to get the maturity value.
Without the specific term of the deposit, it's only possible to provide a step-by-step explanation of how to do the calculation, rather than an exact answer.