Class 10 · ICSE · Mathematics

Banking

Recurring deposit accounts: computing maturity value, interest earned and the monthly deposit.

Questions: 18
PYQs: 0
Topics: 2

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Maturity Value of a Recurring Deposit1 Finding the Monthly Deposit or Rate1

Questions

18 questions in this chapter.

Answer available
Class 10 · Mathematics · Banking
Sameer deposits ₹1,200 per month for 20 months at 6% per annum. Find the interest earned.
4 marksMediumNumerical
Answer available
Class 10 · Mathematics · Banking
A recurring deposit of ₹400 per month runs for 5 years at 8% per annum. Find the interest and the maturity value.
4 marksMediumNumerical
Answer available
Class 10 · Mathematics · Banking
Priya opened a recurring deposit account for 30 months at 10% per annum and received ₹27,100 on maturity. Find her monthly instalment.
4 marksHardNumerical
Answer available
Class 10 · Mathematics · Banking
A man deposits ₹500 per month in a recurring deposit account for 4 years and receives ₹28,410 on maturity. Find the rate of interest.
4 marksHardNumerical
Answer available
Class 10 · Mathematics · Banking
Find the number of months for which ₹2,000 must be deposited each month at 7% per annum for the interest to be ₹910.
3 marksMediumNumerical
Answer available
Class 10 · Mathematics · Banking
Deepa deposits ₹1,500 per month for 2 years at 9% per annum. Find the maturity value of her account.
4 marksMediumNumerical
Answer available
Class 10 · Mathematics · Banking
In a recurring deposit of ₹P per month for n months, the total sum deposited is:
1 markEasyMCQ
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Class 10 · Mathematics · Banking
Why is the interest on a recurring deposit calculated on n(n+1)/2 instalments rather than on n instalments?
2 marksEasyShort answer
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Class 10 · Mathematics · Banking
The maturity value of a recurring deposit account is:
1 markEasyMCQ
Answer available
Class 10 · Mathematics · Banking
Rahul deposits ₹800 per month in a recurring deposit account for 18 months. Find the total sum he deposits.
2 marksEasyNumerical
Answer available
Class 10 · Mathematics · Banking
State two differences between a recurring deposit account and a savings bank account.
2 marksEasyShort answer
Answer available
Class 10 · Mathematics · Banking
Mohan deposits ₹600 per month in a recurring deposit account for 3 years at 10% per annum. Find the maturity value of the account.
4 marksMediumNumerical

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