Same chapter2 marksDifficulty: Easy
State two differences between a recurring deposit account and a savings bank account.
Banking
1 markDifficulty: Easy
The maturity value of a recurring deposit account is:
- athe interest earned
- bthe sum deposited
- cthe sum deposited plus the interest earned
- dthe monthly instalment plus the interest
Original Khojo Papers practice question — not from a past board paper.
Answer
the sum deposited plus the interest earned
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
The depositor receives back everything paid in together with the interest it has earned.
Related questions
From the same topic and chapter, at a similar level.
Same chapter1 markDifficulty: Easy
In a recurring deposit of ₹P per month for n months, the total sum deposited is:
Banking
Same chapter2 marksDifficulty: Easy
Rahul deposits ₹800 per month in a recurring deposit account for 18 months. Find the total sum he deposits.
Banking
Same chapter2 marksDifficulty: Easy
Why is the interest on a recurring deposit calculated on n(n+1)/2 instalments rather than on n instalments?
Banking
Same chapter2 marksDifficulty: Easy
Anita deposits ₹800 per month in a recurring deposit account for 18 months at 8% per annum. Find the interest she earns.
Banking
Same chapter4 marksDifficulty: Medium
Anita deposits ₹1,000 per month in a recurring deposit account for 2 years at 8% per annum. Find the interest she earns and the maturity value of the account.
Banking