R.S. Aggarwal solutions for Mathematics [English] Class 10 ICSE chapter 2 - Banking [Latest edition]

Mrs. Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value.

Inderjeet opened a cumulative time deposit account with Punjab National Bank. Не deposited ₹ 360 per month for 2 years. If the rate of interest be 7% per annum, how much did he get at the time of maturity?

Neema had a recurring deposit account in a bank and deposited ₹ 600 per month for `2 1/2` years. If the rate of interest was 10% per annum, find the maturity value of this account.

Sajal invests ₹ 600 per month for `2 1/2` years in a recurring deposit scheme of Oriental Bank of Commerce. If the bank pays simple interest at `6 2/3 %` per annum, find the amount received by him on maturity.

Mr. Richard has a recurring deposit account in a bank for 3 years at 7.5% p.a. simple interest. If he gets Rs. 8325 interest at the time of maturity, find:

1. The monthly deposit
2. The maturity value.

Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If the bank pays interest at the rate 6% per annum and the monthly instalment is Rs. 1,000, find the:

1. Interest earned in 2 years.
2. Matured value.

Ahmed has a recurring deposit account in a bank. He deposits Rs. 2,500 per month for 2 years. If he gets Rs. 66,250 at the time of maturity, find

1. The interest paid by the bank
2. The rate of interest

Mr. Gupta opened a recurring deposit account in a bank. He deposited Rs. 2,500 per month for two years. At the time of maturity he got Rs. 67,500. Find:

1. the total interest earned by Mr. Gupta.
2. the rate of interest per annum.

Mr. Thomas has a 4 years cumulative time deposit account in Corporation Bank and deposits ₹ 650 per month. If he receives ₹ 36296 at the time of maturity, find:

1. the total interest earned by Mr. Thomas.
2. the rate of interest per annum.

Tanvy has a recurring deposit account in a finance company for `1 1/2` years at 9% per annum. If she gets ₹ 15426 at the time of maturity, how much per month has been invested by her?

Punam opened a recurring deposit account with Bank of Baroda for `1 1/2` years. If the rate of interest is 6% per annum and the bank pays ₹ 11313 on maturity, find how much Punam deposited each month?

Kavita has a cumulative time deposit account in a bank. She deposits ₹ 600 per month and gets ₹ 6165 at the time of maturity. If the rate of interest be 6% per annum, find the total time for which the account was held.

[Hint: x² + 411x – 10x – 4110 = 0].

Kavita has a cumulative time deposit account in a bank. She deposits ₹ 800 per month and gets ₹ 16700 as maturity value. If the rate of interest be 5% per annum, find the total time for which the account was held.

[Hint: x² + 481x – 10020 = 0 ⇒ x² + 501x – 20x – 10020 = 0.]

Mr. Sameer has a recurring deposit account and deposits ₹ 600 per month for 2 years. If he gets ₹ 15600 at the time of maturity, find the rate of interest earned by him.

Suresh has a recurring deposit account in a bank. He deposits ₹ 2000 per month and the bank pays interest at the rate of 8% per annum. If he gets ₹ 1040 as interest at the time of maturity, find in years total time for which the account was held.

Rekha opened a recurring deposit account for 20 months. The rate of interest is 9% per annum and Rekha receives Rs. 441 as interest at the time of maturity. Find the amount Rekha deposited each month.

Mr. Sonu has a recurring deposit account and deposits ₹ 750 per month for 2 years. If he gets ₹ 19125 at the time of maturity, find the rate of interest.

Salman deposits ₹ 1000 every month in a recurring deposit account for 2 years. If he receives ₹ 26000 on maturity, find:

1. the total interest Salman earns.
2. the rate of interest.

Mrs. Rao deposited ₹250 per month in a recurring deposit account for a period of 3 years. She received ₹10,110 at the time of maturity. Find:

1. the rate of interest. 
2. how much more interest Mrs. Rao will receive if she had deposited ₹50 more per month at the same rate of interest and for the same time.

Mr. Anil has a recurring deposit account. He deposits a certain amount of money per month for 2 years. If he received an interest whose value is the double of the deposit made per month, then find the rate of interest.

A recurring deposit is also known as:

In a recurring deposit (R.D.):

In a recurring deposit, the maturity value is given by:

₹ P is deposited for n number of months in a recurring deposit account which pays interest at the rate of r % per annum. The nature and time of interest calculated is ______.

If Ramesh Kumar has an R.D. in a post office, he has to deposit:

In an R.D., the maturity value is the sum of the total amount deposited and the interest. It P is the amount deposited every month for n months and R is the rate of interest, then interest I is equal to ______.

Mohit opened a Recurring deposit account in a bank for 2 years. He deposits ₹ 1000 every month and receives ₹ 25500 on maturity. The interest he earned in 2 years is ______.

Naveen deposits ₹ 800 every month in a recurring deposit account for 6 months. If he receives ₹ 4884 at the time of maturity, then the interest he earns is ______.

Mr. Anuj deposits ₹500 per month for 18 months in a recurring deposit account at a certain rate. If he earns ₹570 as interest at the time of maturity, then his matured amount is ______.

Anwesha intended to open a Recurring Deposit account of ₹ 1000 per month for 1 year in a Bank, paying a 5% per annum rate of simple interest. The bank reduced the rate to 4% per annum. How much must Anwesha deposit monthly for 1 year so that her interest remains the same?

Rahul deposited ₹11700 in a recurring deposit account for $$1\frac{1}{2}$$ years. The amount deposited by him per month is ______.

Radha deposited ₹ 400 per month in a recurring deposit account for 18 months. The qualifying sum of money for the calculation of interest is ______.

Assertion (A): Sunidhi deposits ₹ 1600 per month in a bank for `1 1/2` years in a recurring deposit account at 10% p.a. She gets ₹ 31080 on maturity.

Reason (R): Maturity value is given by MV = (P × n) – S.I.

Assertion (A): Pawandeep opened a recurring deposit account in a bank for a period of 2 years. If the bank pays interest at the rate of 6% p.a. and the monthly instalment is ₹ 1000, then the maturity amount is ₹ 25000.

Reason (R): For a recurring deposit account, we compute the interest using following formula:

`S.I. = P xx (n(n + 1))/12 xx R/100`

A man opened a recurring deposit account in a branch of PNB. The man deposits certain amount of money per month such that after 2 years, the interest accumulated is equal to his monthly deposits. Find the rate of interest per annum that the bank was paying for the recurring deposit account.

Amit deposited ₹ 600 per month in a recurring deposit account. The bank pays a simple interest of 12% p.a. Calculate the:

1. number of monthly instalments Amit deposits to get a maturity amount of ₹ 11826? 
2. total interest paid by the bank. 
3. total amount deposited by him.

If at the time of maturity Joseph receives ₹ 2000 as interest, then the monthly instalment is ______.

The total amount deposited in the bank is ______.

The amount Joseph receives on maturity is ______.

If the monthly instalment is ₹ 100 and the rate of interest is 8%, in how many months Joseph will receive ₹ 52 as interest?