# Selina solutions for Concise Maths Class 10 ICSE chapter 2 - Banking (Recurring Deposit Account) [Latest edition]

## Chapter 2: Banking (Recurring Deposit Account)

Exercise 2 (A)Exercise 2 (B)
Exercise 2 (A)[Pages 23 - 24]

### Selina solutions for Concise Maths Class 10 ICSE Chapter 2 Banking (Recurring Deposit Account)Exercise 2 (A)[Pages 23 - 24]

Exercise 2 (A) | Q 1 | Page 23

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.

Exercise 2 (A) | Q 2 | Page 23

Mrs Mathew opened a Recurring Deposit Account in a certain bank and deposited ₹ 640 per month for 4 ½ years. Find the maturity value of this account, if the bank pays interest at the rate of 12% per year.

Exercise 2 (A) | Q 3 | Page 23

Each of A and B both opened recurring deposit accounts in a bank. If A deposited Rs 1,200 per month for 3 years and B deposited Rs 1,500 per month for 2 ½ years; find, on maturity, who will get more amount and by how much? The rate of interest paid by the bank is 10% per annum.

Exercise 2 (A) | Q 4 | Page 23

Ashish deposits a certain sum of money every month is a Recurring Deposit Account for a period of 12 months. If the bank pays interest at the rate of 11% p.a. and Ashish gets ₹ 12,715 as the maturity value of this account, what sum of money did money did he pay every month?

Exercise 2 (A) | Q 5 | Page 23

A man has a Recurring Deposit Account in a bank for 3 1/2 years. If the rate of interest is 12% per annum and the man gets Rs 10,206 on maturity, find the value of monthly instalments.

Exercise 2 (A) | Q 6.1 | Page 23

Puneet has a Recurring Deposit Account in the Bank of Baroda and deposits Rs 140 per month for 4 years. If he gets Rs 8,092 on maturity, find the rate of interest given by the bank.

Exercise 2 (A) | Q 6.2 | Page 23

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.

Exercise 2 (A) | Q 7 | Page 23

Amit deposited Rs 150 per month in a bank for 8 months under the Recurring Deposit Scheme. What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest is calculated at the end of every month?

Exercise 2 (A) | Q 8 | Page 24

Mrs Geeta deposited Rs 350 per month in a bank for 1 year and 3 months under the Recurring Deposit Scheme. If the maturity value of her deposits is Rs 5,565; find the rate of interest per annum.

Exercise 2 (A) | Q 9 | Page 24

A recurring deposit account of Rs 1,200 per month has a maturity value of Rs 12,440. If the rate of interest is 8% and the interest is calculated at the end of every month; find the time (in months) of this Recurring Deposit Account.

Exercise 2 (A) | Q 10 | Page 24

Mr Gulati has a Recurring Deposit Account of Rs 300 per month. If the rate of interest is 12% and the maturity value of this account is Rs 8,100; find the time (in years) of this Recurring Deposit Account.

Exercise 2 (A) | Q 11 | Page 24

Mr. Gupta opened a recurring deposit account in a bank. He deposited Rs. 2500 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.

Exercise 2 (B)[Page 24]

### Selina solutions for Concise Maths Class 10 ICSE Chapter 2 Banking (Recurring Deposit Account)Exercise 2 (B)[Page 24]

Exercise 2 (B) | Q 1 | Page 24

Pramod deposits Rs 600 per month in a Recurring Deposit Account for 4 years. If the rate of interest is 8% per year; calculate the maturity value of his account.

Exercise 2 (B) | Q 2 | Page 24

Ritu has a Recurring Deposit Account in a bank and deposits Rs 80 per month for 18 months. Find the rate of interest paid by the bank if the maturity value of the account is Rs 1,554.

Exercise 2 (B) | Q 3 | Page 24

The maturity value of an R.D. Account is Rs 16,176. If the monthly instalment is Rs 400 and the rate of interest is 8%; find the time (period) of this R.D Account.

Exercise 2 (B) | Q 4 | Page 24

Mr Bajaj needs Rs 30,000 after 2 years. What least money (in multiple of 5) must he deposit every month in a recurring deposit account to get required money after 2 years, the rate of interest being 8% p.a.?

Exercise 2 (B) | Q 5 | Page 24

Mr. Richard has a recurring deposit account in a post office for 3 years at 7.5% p.a. simple interest. If he gets Rs. 8,325 as interest at the time of maturity, find:

1. the monthly income
2. the amount of maturity
Exercise 2 (B) | Q 6 | Page 24

Gopal has a cumulative deposit account and deposits Rs 900 per month for a period of 4 years he gets Rs 52,020 at the time of maturity, find the rate of interest.

Exercise 2 (B) | Q 7 | Page 24

Deepa has a 4-year recurring deposit account in a bank and deposits Rs 1,800 per month. If she gets Rs 1,08,450 at the time of maturity, find the rate of interest.

Exercise 2 (B) | Q 8 | Page 24

Mr Britto deposits a certain sum of money each month in a Recurring Deposit Account of a bank. It the rate of interest is of 8% per annum and Mr Britto gets Rs. 8088 from the bank after 3 years, find the value of his monthly instalment.

Exercise 2 (B) | Q 9 | Page 24

Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month for 1 1/2 years. If he recieved Rs 15,084 at the time of maturity, find the rate of interest per annum.

Exercise 2 (B) | Q 10 | Page 24

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

Exercise 2 (B) | Q 11 | Page 24

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs. 1200 as interest at the time of maturity find:
(i) the monthly instalment
(ii) the amount of maturity.

## Chapter 2: Banking (Recurring Deposit Account)

Exercise 2 (A)Exercise 2 (B)

## Selina solutions for Concise Maths Class 10 ICSE chapter 2 - Banking (Recurring Deposit Account)

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Concepts covered in Concise Maths Class 10 ICSE chapter 2 Banking (Recurring Deposit Account) are Introduction to Banking, Computation of Interest, Bank.

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