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# Frank solutions for Class 10 Mathematics chapter 3 - Banking

## Chapter 3: Banking

Exercise 3.1Exercise 3.2

#### Chapter 3: Banking Exercise Exercise 3.1 solutions [Pages 45 - 46]

Exercise 3.1 | Q 1.1 | Page 45

Mr. Burman open a saving back account with Bank of India on 3rd April 2007 with a cash deposit of Rs 5,000/-. Subsequently, he deposited Rs 16,500/- by cheque on 11th April 2007, withdraw Rs 4,000/- on 10th May, paid Rs 3,500 for insurance by cheque on 7th July 2007, deposited Rs. 6,000/- in cash on 9th August 2007 and withdrew Rs 1,500/- on 12th Oct 2007.

Make the entries in his passbook

Exercise 3.1 | Q 1.2 | Page 45

Mr. Burman open a saving back account with Bank of India on 3rd April 2007 with a cash deposit of Rs 5,000/-. Subsequently, he deposited Rs 16,500/- by cheque on 11th April 2007, withdraw Rs 4,000/- on 10th May, paid Rs 3,500 for insurance by cheque on 7th July 2007, deposited Rs. 6,000/- in cash on 9th August 2007 and withdrew Rs 1,500/- on 12th Oct 2007.

If he closed the account on 14th December and if the rate of simple interest is 4% pa, then find the amount he received on closing the account.

Exercise 3.1 | Q 2.1 | Page 45

Ms. Chitra opened a saving bank account with SBI on 05.04.2007 with a cheque deposit of Rs 11,000/.Subsequently, she took out Rs 3,200/- on 12.05.2007; deposited a cheque of Rs. 8,800/- on 03.06.2007 and paid Rs 2,000/- by cheque on 18.06.2007.

Make the entries in her passbook

Exercise 3.1 | Q 2.2 | Page 45

Ms. Chitra opened a saving bank account with SBI on 05.04.2007 with a cheque deposit of Rs 11,000/.Subsequently, she took out Rs 3,200/- on 12.05.2007; deposited a cheque of Rs. 8,800/- on 03.06.2007 and paid Rs 2,000/- by cheque on 18.06.2007.

If the rate of simple interest was 5% pa compounded at the end of March and September, find her balance on 1.04.2008

Exercise 3.1 | Q 3.1 | Page 45

Given below is a page from the passbook of a saving bank account that Mr. Sharma has with SBI. If the bank gives interest at 6%pa, find

The principal amount in January, February and March which will be considered for interest for interest calculation.

Exercise 3.1 | Q 3.2 | Page 45

Given below is a page from the passbook of a saving bank account that Mr. Sharma has with SBI. If the bank gives interest at 6%pa, find

The interest she gets at the end of March.

 Date Particulars Withdrawls Deposite Balance 05.01.08 By cash 15500.00 15500.00 10.01.08 To cheque 4800.00 10700.00 15.02.08 To cheque 5300.00 5400.00 08.03.08 By cash 19200.00 24600.00 17.03.08 To cheque 7400.00 32000.00
Exercise 3.1 | Q 4 | Page 46

Given below is a page from the passbook of the savings bank account of Mr. Rajesh. Complete the entries in the passbook and calculate the interest paid to him by the bank at 6°/o pa in the end of June.

 Date Particulars Withdrawals Deposits Balance 08.02.2008 By Cash 12000.00 15.03.2008 To cash 3000.00 08.04.2008 To Cheque 2500.00 18.04.2008 By Cash 16000.00 10.06.2008 By Cash 800.00
Exercise 3.1 | Q 5 | Page 46

Given below is a page from the passbook of a saving bank account of Dolly Majumdar. Complete the entries in the passbook and find the interest earned by the account holder in the month of November if the rate of simple interest is 5°/o pa.

 Date Particular Withdrawals Deposits Balance 01.04.2007 By B/F 16500.00 15.04.2007 By Cash 2500.00 09.06.2007 To Cheque 6500.00 04.07.2007 By Cash 9000.00 12.07.2007 To Cash 3500.00 05.09.2007 To Cash 4000.00 10.11.2007 By Cheque 12000.00
Exercise 3.1 | Q 6 | Page 46

The following are the entries in the passbook of a saving account of Ananya during the year 2007. If interest is calculated at 5 % pa, find the interest earned by Ananya during the year

 Date Particulars Withdrawals Deposits Balance 01.01.2007 By B/F 6500.00 05.02.2007 By Cheque 7500.00 14000.00 09.02.2007 To Cash 1500.00 12500.00 06.06.2007 By Cash 1725.00 14225.00 08.09.2007 By Cheque 375.00 14600.00 06.11.2007 By Cash 6000.00 20600.00 10.12.2007 To Cheque 2500.00 18100.00
Exercise 3.1 | Q 7 | Page 46

The following enb·ies are from the saving bank account passbook of Mr. Ratnesh. If the rate of interest paid by the bank is 4. 5°/op.a. calculated at the end of March and September, find the balance in his account at the end of the year.

 Date Particulars Withdrawls Deposits Balance 03.01.2006 By B/F 17900.00 09.01.2006 To Cash 3700.00 14200.00 06.02.2006 To Cheque 2450.00 11750.00 21.02.2006 By Cash 15600.00 27350.00 17.03.2006 By Cash 9850.00 37200.00 31.03.2006 By Interest 06.06.2006 To Cheque 4100.00 22.08.2006 To Cash 1500.00 05.09.2006 By Cheque 17300.00 09.09.2006 To Cash 6300.00 30.09.2006 By Interest 04.12.2006 To Cash 3000.00 11.12.2006 By Cheque 11760.00
Exercise 3.1 | Q 8 | Page 46

Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at 4.5°/o on all SB accounts. Find the amount received by Mr. Punjwani when he closed the acoount on 2S'h July 08.

 Date Particulars Withdrawls Deposits Balance 05.01.2008 By B/F 24650.00 09.01.2008 By cash 14390.00 39040.00 15.02.2008 To Cheque 7600.00 31440.00 21.02.2008 By Cheque 8350.00 39790.00 07.03.2008 To Cash 4000.00 35790.00 31.03.2008 By Interest 08.04.2008 By Cheque 13670.00 12.04.2008 To Cash 6000.00 01.05.200 By Cheque 17350.00 16.06.2008 By Cash 9000.00 27.06.2008 To Cash 4370.00 04.07.2008 By Cheque 21320.00 11.07.2008 To Cheque 9460.00 c

#### Chapter 3: Banking Exercise Exercise 3.2 solutions [Page 51]

Exercise 3.2 | Q 1 | Page 51

Mrs. Chhabra deposits Rs 500 per month in a recurring deposit account for 4 years at a simple interest rate of 6% pa.

(a) Find the maturity value of deposit.

(b) Find the total interest she will earn after 2 years

Exercise 3.2 | Q 2 | Page 51

Mrs Khandelkar invests Rs 900 every month in a recurring deposit account for a period of 3 years at a simple interest rate of 8% pa

(a) Find the total interest she will earn at the end of the period.
(b) Find the maturity value of her deposits.

Exercise 3.2 | Q 3 | Page 51

Mr. Patel deposit Rs 2,250 per month in a recurring deposit account for a period of 3 years. At the time of maturity, he gets Rs 90,990.

(a) Find the rate of simple interest per annum.
(b) Find the total interest earned by Mr. Patel.

Exercise 3.2 | Q 4 | Page 51

Mr. Menon deposit Rs 1,200 per month in a cumulative deposit account for a period of 5 years. After the end of the period, he will receive Rs 88,470. (a) Find the rate of the interest per annum. (b) Find the total interest that Mr. Menon will earn.

Exercise 3.2 | Q 5 | Page 51

Aarushi has a recurring deposit account for 2 years at 6% pa. She receives Rs 1,125 as interest on maturity.
(a) Find the monthly instalment amount.
(b) Find the maturity amount.

Exercise 3.2 | Q 6 | Page 51

Mr. Mohan has a cumulative deposit account for 3 years at 7% interest pa. She receives Rs 8,547 as a maturity amount after 3 years.
(a) Find the monthly deposit.
(b) Find the total interest receivable after maturity.

Exercise 3.2 | Q 7 | Page 51

Mr. Banerjee opens a recurring deposit account for Rs 3,000 per month at 9% simple interest pa. On maturity, he gets Rs. 1,70,460. Find the period for which he continued with the account.

Exercise 3.2 | Q 8 | Page 51

Ms. Saha opened a cumulative deposit account of monthly instalment of Rs 1,200 at 9%p.a simple interest. She earned a total interest of Rs 5,328. How much installments did she pay?

Exercise 3.2 | Q 9 | Page 51

What should be minimum monthly deposit in a recurring deposit for 3 years to get Rs 20,220 on maturity after 3 years at an interest rate of 8% pa.

Exercise 3.2 | Q 10 | Page 51

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.

## Chapter 3: Banking

Exercise 3.1Exercise 3.2

## Frank solutions for Class 10 Mathematics chapter 3 - Banking

Frank solutions for Class 10 Maths chapter 3 (Banking) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the CISCE Frank Class 10 Mathematics Part 2 solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Class 10 Mathematics chapter 3 Banking are Introduction to Banking, Computation of Interest, Types of Accounts.

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