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Banking Class X (Selina) : Exercise:-2 (A)

This document contains 11 questions related to recurring deposit accounts. It provides details about interest rates, monthly deposit amounts, time periods of accounts, and asks to calculate maturity values, interest earned, deposit amounts, and interest rates. Specifically, question 1 asks to calculate the maturity value of an account with Rs. 600 deposited monthly for 20 months at 10% interest. Question 11 asks to find the monthly installment and maturity amount, given Rs. 1,200 interest earned over 2 years with a 6% interest rate. In total, there are 22 questions across two sections about recurring deposit accounts of varying lengths, deposit amounts, interest rates, and calculations of final values.

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289 views4 pages

Banking Class X (Selina) : Exercise:-2 (A)

This document contains 11 questions related to recurring deposit accounts. It provides details about interest rates, monthly deposit amounts, time periods of accounts, and asks to calculate maturity values, interest earned, deposit amounts, and interest rates. Specifically, question 1 asks to calculate the maturity value of an account with Rs. 600 deposited monthly for 20 months at 10% interest. Question 11 asks to find the monthly installment and maturity amount, given Rs. 1,200 interest earned over 2 years with a 6% interest rate. In total, there are 22 questions across two sections about recurring deposit accounts of varying lengths, deposit amounts, interest rates, and calculations of final values.

Uploaded by

neerleo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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BANKING CLASS X (SELINA)

EXERCISE :- 2(A)
Question 1
Manish opens a Recurring Deposit Account with the Bank of Rajasthan and deposits   600 per
month for 20 months. Calculate the maturity value of this account, if the bank pays interest at the
rate of 10% per annum.

Question 2
Mrs. Mathew opened a Recurring Deposit Account in a certain bank and deposited   640 per
month for 41/2 years. Find the maturity value of this account, if the bank pays interest at the rate
of 12% per year.

Question 3
Each of A and B both opened recurring deposit accounts in a bank. If A deposited   1,200 per

month for 3 years and B deposited   1,500 per month for   years; find, on maturity, who will
get more amount and by how much? The rate of interest paid by the bank is 10% per annum.

Question 4
Ashish deposits a certain sum of money every month is a Recurring Deposit Account for a period
of 12 months. If the bank pays interest at the rate of 11% p.a. and Ashish gets   12,715 as the
maturity value of this account, what sum of money did money did he pay every month?

Question 5
A man has a Recurring Deposit Account in a bank for 3½ years. If the rate of interest is 12% per
annum and the man gets  10,206 on maturity, find the value of monthly installments.

Question 6
(i) Puneet has a Recurring Deposit Account in the Bank of Baroda and deposits  140 per
month for 4 years. If he gets  8,092 on maturity, find the rate of interest given by the bank.
(ii) David opened a Recurring Deposit Account in a bank and deposited  300 per month for two
years. If he received  7,725 at the time of maturity, find the rate of interest per annum.

Question 7
Amit deposited  150 per month in a bank for 8 months under the Recurring Deposit Scheme.
What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest
is calculated at the end of every month?

Question 8
Mrs. Geeta deposited  350 per month in a bank for 1 year and 3 months under the Recurring
Deposit Scheme. If the maturity value of her deposits is  5,565; find the rate of interest per
annum.

Question 9
A recurring deposit account of  1,200 per month has a maturity value of  12,440. If the rate of
interest is 8% and the interest is calculated at the end of every month; find the time (in months) of
this Recurring Deposit Account

Question 10
Mr. Gulati has a Recurring Deposit Account of  300 per month. If the rate of interest is 12% and
the maturity value of this account is  8,100; find the time (in years) of this Recurring Deposit
Account.

Question 11
Mr. Gupta opened a recurring deposit account in a bank. He deposited  2,500 per month for
two years. At the time of maturity he got  67,500. Find:
(i) the total interest earned by Mr. Gupta
(ii) the rate of interest per annum.
BANKING CLASS X (SELINA)

EXERCISE :- 2(B)
Question 1
Pramod deposits  600 per month in a Recurring Deposit Account for 4 years. If the
rate of interest is 8% per year; calculate the maturity value of his account.

Question 2
Ritu has a Recurring Deposit Account in a bank and deposits  80 per month for 18
months. Find the rate of interest paid by the bank if the maturity value of account
is  1,554.

Question 3
The maturity value of a R.D. Account is  16,176. If the monthly installment is 
400 and the rate of interest is 8%; find the time (period) of this R.D Account.

Question 4
Mr. Bajaj needs  30,000 after 2 years. What least money (in multiple of  5) must
he deposit every month in a recurring deposit account to get required money after 2
years, the rate of interest being 8% p.a.?

Question 5
Mr. Richard has a recurring deposit account in a post office for 3 years at 7.5% p.a. simple
interest. If he gets Rs. 8,325 as interest at the time of maturity, find:
 i. the monthly income
 ii. the amount of maturity

Question 6
Gopal has a cumulative deposit account and deposits  900 per month for a period
of 4 years he gets  52,020 at the time of maturity, find the rate of interest.

Question 7
Deepa has a 4-year recurring deposit account in a bank and deposits  1,800 per
month. If she gets  1,08,450 at the time of maturity, find the rate of interest.

Question 8
Mr. Britto deposits a certain sum of money each month in a Recurring Deposit Account of a bank.
If the rate of interest is of 8% per annum and Mr. Britto gets Rs. 8,088 from the bank after 3
years, find the value of his monthly installment.
Question 9

Question 10
Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If
the bank pays interest at the rate of 6% per annum and the monthly installment is Rs. 1,000, find
the :
(i) interest earned in 2 years
(ii) maturity value

Question 11
Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he
gets Rs. 1,200 as interest at the time of maturity, find:
(i) the monthly instalment
(ii) the amount of maturity. 

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