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Question
Veena deposits Rs. 100 per month in a bank cumulative time deposit scheme for a period of 5 years. What amount does she get on maturity if the rate of interest is 16%?
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Solution
See the table of RD. scheme. For a monthly installment of Rs. 100 per month the maturity values after 5 years is Rs. 8,447.80.
RELATED QUESTIONS
Given below are the entries in a Saving Bank A/c passbook.
| Date | Particulars | Withdrawals | Deposit | Balance |
| Feb8 | B/F | - | - | Rs. 8500 |
| Feb 18 | To self | Rs. 4000 | - | |
| April 12 | By cash | - | Rs. 2230 | |
| June 15 | To self | Rs. 5000 | - | |
| July 8 | By cash | - | Rs. 6000 |
Calculate the interest for six months from February to July at 6% p.a.
Manish opens a Recurring Deposit Account with the Bank of Rajasthan and deposits Rs. 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.
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7,725 at the time of maturity, find the rate of interest per annum.
Rishabh has the recurring deposit account in a post office for 3 years at 8% p.a. simple interest. If he gets Rs 9,990 as interest at the time of maturity, find:
1) The monthly instalment.
2) The amount of maturity.
John had a S.B. Account in Bank of Baroda. His passbook had the following entries:
| Date | Particulars | Amount Withdrawn (In Rs) |
Amount Deposits (In Rs) |
Balance (In Rs) |
| Jan 1, 2000 Jan, 8 Feb 18 May 19 July 15 Oct 7 |
By Balance By cash To Cheque By Cash To self By cash |
- - 10,500 - 2,400 - |
- 6,000 - 6,300 - 3,600 |
9,600 15,600 5,100 11,400 9,000 12,600 |
On October 30, 2000 John received his transfer order and closed the account. If the amount of interest he received on closing the account on 30th, Oct 2000 is Rs. 310; calculate the rate of interest per annum.
The entires in a savings bank passbook are as given below:
| Date | Particulars | Particulars Withdrawals (In Rs) |
Deposits (In Rs) | Balance (In Rs) |
| 01.01.03 01.02.03 12.02.03 05.04.03 15.04.03 09.05.03 04.06.03 |
B/F By cash To cheque By Cash To cheque By cash By Cash |
5,000.00 4,250.00 |
11,500.00
1,500 1,500 |
14,000.00 25.500.00 20,500.00 24,250.00 20,000.00 21,500.00 23,000.00 |
Calculate the interest for six months (January to June) at 4% per annum on the minimum balance on or after the tenth day of each month
Mr. Pradip deposited Rs 2,400 pm in bank for One year 6 months under the recurring deposit scheme. If the maturity value of his deposit is Rs 47,304 find the rate of interest per annum.
Suresh has joined a factory which pays wages by cheque only. He opens a S.B. account on Feb. 1, and his passbook has the following entries Upto 1st April of the year.
| Date | Particulars | Withdrawals(₹) | Deposits(₹) | Balance(₹) |
| Feb. 1 | By cash | - | 50·00 | 50·00 |
| Feb. 2 | By salary | - | 1,000·00 | 1,050·00 |
| Feb. 4 | To withdrawn slip | 200·00 | - | 850·00 |
| Feb. 15 | By overtime allowance | - | 300·00 | 1,150·00 |
| Feb. 24 | To Aslam | 100·00 | - | 1,050·00 |
| March 1 | By salary | - | 1,000·00 | 2,050·00 |
| March 7 | To cheque no. 212 | 500·00 | - | 1,550·00 |
| March 21 | To cheque no. 213 | 700·00 | - | 850·00 |
| March 27 | To self | 400·00 | - | 450·00 |
| Apr. 1 | By salary | - | 1,000·00 | 1,450·00 |
| Apr. 11 | By interest | - | - | - |
He closes the account on 11th April. Complete the entries for 11th April at the rate of 5%
Given the following details, calculate the simple interest at the rate of 6% per annum up to June, 30:
| Date | Debit (in ₹) | Credit (in ₹) | Balance (in ₹) |
| January 1 | - | 24,000·00 | 24,000·00 |
| January 20 | 5,000·00 | - | 19,000·00 |
| January 29 | - | 10,000·00 | 29,000·00 |
| March 15 | - | 8,000·00 | 37,000·00 |
| April 3 | - | 7,653·00 | 44,653·00 |
| May 6 | 3,040·00 | - | 41,613·00 |
| May 8 | - | 5,087·00 | 46,700·00 |
Mr. R.K. Nair gets Rs 6,455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly installment.
