Same chapter4 marksDifficulty: Medium
A recurring deposit of ₹400 per month runs for 5 years at 8% per annum. Find the interest and the maturity value.
Banking
1 markDifficulty: Medium
If a recurring deposit runs for 2 years, the value of n used in the interest formula is:
- a2
- b12
- c24
- d48
Original Khojo Papers practice question — not from a past board paper.
Answer
24
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
n counts the monthly instalments, and two years is 24 months.
Related questions
From the same topic and chapter, at a similar level.
Same chapter4 marksDifficulty: Medium
Mohan deposits ₹600 per month in a recurring deposit account for 3 years at 10% per annum. Find the maturity value of the account.
Banking
Same chapter4 marksDifficulty: Medium
Deepa deposits ₹1,500 per month for 2 years at 9% per annum. Find the maturity value of her account.
Banking
Same chapter4 marksDifficulty: Medium
Sameer deposits ₹1,200 per month for 20 months at 6% per annum. Find the interest earned.
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
Same chapter3 marksDifficulty: Medium
Find the number of months for which ₹2,000 must be deposited each month at 7% per annum for the interest to be ₹910.
Banking