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Selina solutions Selina ICSE Concise Mathematics for Class 10 chapter 2 Banking (Recurring Deposit Account)

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Selina Selina ICSE Concise Mathematics Class 10

Selina ICSE Concise Mathematics for Class 10

Chapter 2 - Banking (Recurring Deposit Account)

Page 0

Manu opened a savings bank account in the state bank of India on 3rd sept, 12 with Rs. 2,700. He withdrew Rs. 1,200 from the bank on 8th sept, 12 and deposited Rs. 500 on 17th sept, 12. If he did not make any further deposits or withdrawals during this month; find the amount on which he would receive interest for sept, 12.

Geeta opened a savings bank account in a bank on `7^"th"` Nov., 08 and deposited Rs. 750. She withdrew Rs. 200 on `30^"th"` Nov., 08. If no other withdrawal or deposit was made by her during this month; find the amount on which she would receive interest for the month of Nov., 08.

A man opened a savings bank account with a bank on 22nd Feb., 1998 and deposited Rs. 300. He further deposited Rs. 1,500 on 5th march 1998 and withdrew Rs. 500 on 12th April 1998. Assuming that he neither deposited not withdrew any money up to the last day of May 1998; write the amounts on which he would receive interest for:
(i) Feb., 1998 (ii) March, 98 (iii) April, 98 (iv) May, 98

John had a savings bank account in a bank. In the months of april, 97 and May, 97 He had the following entries in his passbook.

Date Particulars Withdrawals (In Rs) Deposits (In Rs) Balance (In Rs)
April 1 By Balance     4,600.00
April 7 By cash   1,200.00 5,800.00
April 24 To Cheque 800.00   5,000.00
May 16 By Cheque   2,000.00 7,000.00
May 29 To Cash 1,500.00   5,500.00

Find the amounts on which John will get interest for the months of April, 97 and May 97.

 

A page from the passbook of Asha is given below:

Date Particulars Amount Withdrawn (Dr) Rs P Amount Deposits (Cr) Rs. P Balance Rs. P
Jan 5
March 7
April 2
April 10
Oct , 6
Dec, 8
Balance B/F
To Cheque
By Cheque
By Cheque
By Cheque
By Cash

1,200.00

 

950.00

 

 

2,300.00
820.00

 

1,700.00

 

3,750.00

 

 

 

Complete the passbook and then calculate the interest for the period January to December 5% 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


3,750.00

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

A page from the passbook of Mrs. Rama Bhalla is given below:

Date Particulars Withdrawals (In Rs) Deposits (In Rs) Balance (In Rs)
January 1 B/F     2,000.00
January 9 By Cash   200.00 2,200.00
February 10 To Cheque 500.00   1,700.00
February 24 By Cheque   300.00 2,000.00
July 29 To Cheque 200.00   1,800.00
November 7 By Cash   300.00 2,100.00
December 8 By Cash   200.00 2,300.00

Calculate the interest to Mrs. Bhalla for the period from January 2004 to December 2004, at the rate of 5% per annum.

Mr. Sen has a savings bank account with a post office.
(i) calculate the interest earned by Mr. Sen during the year 2010 at 6.5% per annum payable in December if the entries during the year in his passbook are as given below: 

Date Particulars Withdrawals (Rs) Deposits (Rs)
2.1.10 By cash   250.00
9.1.10 By Cheque   825.00
13.3.10 To Cash 325.00  
24.7.10 By Cash   1,237.00
6.10.10 To Cheque 250.00  
22.12.10 By Cheque   958.00

(ii) Also, calculate the interest when the principal for every month is taken as the nearest multiple of Rs. 10.

A savings bank account was opened by Mrs. Roy on 3.7.12 and closed on 31.01.13. The entries in the passbook of Mrs. Roy were as given below:

Date Particulars Debit (In Rs) Credit (In Rs) Balance (In Rs)
3.7.12 By cash   690.00  
15.7.12 By cash   1,153.00  
27.8.12 By Cheque   2,468.00  
30.8.12 To cash 946.00    
12.9.12 To Cheque 1,000.00    
20.11.12 By Cheque   3,000.00  
26.11.12 By cash   750.00  
28.11.12 To Cash 1,570.00    

(i) By finding the balance on different dates of entries calculate the interest earned by Mrs. Roy, For the period she had this savings bank account, at the rate of 6% p.a.
(ii) Also, calculate the interest when the principal for every month is taken as the nearest multiple of 10.

Mrs. Swami had a savings bank account with the state bank of India, from `13^"th"` Feb 09 to 6th August 09. The following table shows the entries in her passbook for the above said periods. Calculate the interest earned by Mrs. Swami on her S.B. Account up to `31^"st"` July 09 at the rate of 5% per annum.

Date Particulars Amount Withdrawn (Dr) Rs P Amount Deposits (Cr) Rs. P Balance Rs. P
Feb 13 By Cash   500.00 500.00
March 3 By cheque   735.00 1,235.00
March 14 By cheque   1,040.00 2,275.00
May 10 To cheque 240.00   2.035.00
May 22 To cash 430.00   1,605.00
June 19 By cash   780.00 2,385.00
July 26 To cash 980.00   1,405.00

A page from the passbook of a savings book account in a particular year is given below:

Date Particulars Debit (In Rs) Credit (In Rs) Balance (In Rs)
Jan 3 By cash   5,000.00 5,000.00
Feb 13 To self 500.00    
March 24 By cheque   2,000.00  
March 31 By Interest      
May 20 By cash   800.00  
July 7 To Cheque 1,400.00    
July 18 By cash   1,600.00  
Sept 15 To Cheque 3,200.00    
Sept 26 By Cheque   2,350.00  

If the interest is calculated at 6% P.a. and is compounded at the end of march and September at every year, find the interest earned up to 31st march and then after completing all the entries, find the amount that the account holder would have received had he closed the account on 20th October the same year.

A page from the savings bank account of Mr. Prateek if given below. 

Date Particulars Withdrawals (In Rs) Deposits (In Rs) Balance (In Rs)
January 1st 2006 B/F - - 1,270
January 7th 2006 By Cheque - 2,310 3,580
March 9th 2006 To self 2,000 - 1,580
March 26th 2006 By cash - 6,200 7,780
June 10th 2006 To Cheque 4,500 - 3,280
July 15th 2006 By clearing - 2,630 5,910
October 18th 2006 To Cheque 530 - 5,380
October 27th 2006 To self 2,690 - 2,690
November 3rd 2006 By cash - 1,500 4,190
December 6th 2006 To cheque 950 - 3,240
December 23rd 2006 By Transfer - 2,920 6,160

If h receives Rs. 198 as interest on 1st January, 2007, Find the rate of interest paid by the bank.

A man holds a savings bank account in the union bank of India. A page of his passbook shows the following entries:

Date Particulars Withdrawals (Rs) Deposits (Rs) Balance (Rs)
May 1 B/F     3,200.00
May 6 By Cheque   500.00 3,700.00
May 17 By Cheque   800.00 4,500.00
June 4 By Cash   1,300.00 5,800.00
June 9 To Cheque 1,650.00   4,150.00

Calculate the rate of interest per annum if the total interest earned for the months of May and June is Rs. 39.25`

A page from the passbook of Mr. Rohit is given below. The interest accrued for the period January to December 2006 at a certain rate of interest per annum is Rs. 377.40. without taking the principal as the nearest multiple of Rs. 10, calculate the rate:

Date Particulars Debit (Rs) Credit (Rs) Balance (Rs)
2006        
Jan 1 Balance B/F     7,500.00
March 7 By Cheque   1,875.00  
March 10 By Cash   625.00  
July 17 To self 3,250.00    
Oct 5 By Cheque   2,160.00  
Dec 19 To Cheque 1,340.00    

Mr. Verma opened a savings bank account with the state bank of India on 5th April 2007 with Rs. 8,500. For the financial year 2007-2008, the other transactions with the bank are given below:
(i) 15-05.2007; deposited Rs. 3,700
(ii) 27-07-2007; withdrew Rs. 2,400
(iii) 06-09-2007; withdrew Rs. 1,600
(iv) 18-12-2007; deposited Rs. 4,500
(v) 29-01-2008; Deposited Rs. 1,900
(vi) 23-03-2008; account closed.
Taking the rate of interest as 6% per annum, find the amount that Mr. Verma gets on closing the account.

Mrs. N. Batra has a savings bank account with the Punjab National bank. She had the following transactions (from 1st January, 2007 to 31st December, 2007) with the bank:
(i) 01-01-2007; B/F Rs. 8,764/-
(ii) 13-03-2007; deposited Rs. 6,482
(iii) 22-06-2007; withdrew Rs. 4,369
(iv) 09-08-2007; withdrew Rs. 1,333
(v) 24-11-2007; Deposited Rs. 2,158
Calculate the interest the accrured upto 31st December, 2007: if the rate of interest is 5% compounded yearly and the principle for every month is taken as the nearest multiple of Rs.10.
Taking the rate of interest as 6% per annum, find the amount that Mr. verma gets on closing the account.

Mrs Kapoor opened a Savings Bank Account in State Bank of India on 9th January 2008. Her pass book entries for the year 2008 are given below:

Date Particulars Withdrawals (in Rs.) Deposits (in Rs.) Balance (in Rs.)
Jan 9, 2008 By Cash - 10000 10000
Feb 12, 2008 By Cash - 15500 25500
April 6, 2008 To Cheque 3500 - 22000
April 30, 2008 To Self 2000 - 20000
July 16, 2008 By Cheque - 6500 26500
August 4, 2008 To Self 5500 - 21000
August 20, 2008 To Cheque 1200 - 19800
Dec. 12, 2008 By Cash - 1700 21500

Mrs Kapoor closes the account on 31st December 2008. If the bank pays interest at 4% per annum, find the interest Mrs Kapoor receives on closing the account. Give your answer correct to the nearest rupee.

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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.

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.

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.

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?

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.

 

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.

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.

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?

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.

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.

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.

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.

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Given below are the entries in a saving Bank A/C pass book:

Date Particulars Withdrawals Deposits Balance
Feb 8
Feb 18
April 12
June 15
July 8
B/F
To self
By Cash
To Self
By Cash
-
Rs. 4,000
-
Rs. 5,000
-
-
-
Rs. 2,230
-
Rs. 6,000
Rs. 8,500
4500
6730
1730
7730

Calculate the interest for 6 months from February to July at 6% per annum.

A page from a passbook of savings bank account is given below:

Date Particulars Amount Withdrawn
(In Rs)
Amount Deposits
(In Rs)
Balance
(In Rs)
09.08.1999
11.08.1999
05.10.1999
10.10.1999
27.11.1999
29.11.1999
By Cash
By Cheque
To Cheque
By Cash
By Cheque
By Cash
-
-
12,000
-
5,000
-
10,000
5,000
-
17,000
-
3,000
10,000
15,000
3,000
20,000
15,000
18,000

The account is closed on 2nd Jan, 2000. Find the amount received, if the rate of interest is 5%

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.

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.

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.

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.

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.?

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.

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.

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.

Mr Choudhury opened a Saving Bank Account at State Bank of India on 1st April 2007. The entries of one year as shown in his passbook are given below.

Date Particulars Withdrawals (in Rs.) Deposits (in Rs.) Balance (in Rs.)
Ist April 2007 By Cash - 8550.00 8550.00
12th- April 2007 To Self 1200.00 -- 7350.00
24th April 2007 By Cash - 4550.00 11900.00
8th July 2007 By Cheque - 1500.00 13400.00
10th Sept. 2007 By Cheque - 3500.00 16900.00
17th Sept. 2007 By Cheque 2500.00 - 14400.00
11th Oct. 2007 By Cash - 800.00 15200.00
6th Jan. 2008 To Self 2000.00 - 13200.00
9th March 2008 By Cheque - 950.00 14150.00

If the bank pays interest at the rate of 5% per annum, find the interest paid on 1st April 2008. Give your answer correct to the nearest rupee.

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.

Selina Selina ICSE Concise Mathematics Class 10

Selina ICSE Concise Mathematics for Class 10
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