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BANKING

Banking Maths icse

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Ramchandra Murthy
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39 views3 pages

BANKING

Banking Maths icse

Uploaded by

Ramchandra Murthy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BANKING

Question 1

Choose the correct answers to the questions from the given options. (Do not copy the
question,
write the correct answers only.) 5
i) A man gets Rs l 1,404 as interest at the end of one year. If the rate of interest is 12% p.a in

R.D. account, the monthly instalment is:

(a) Rs 1,200

(c) Rs l 2,400

(b) Rs 1,800

(d) Rs 3,600

ii) A man deposits Rs 1500 per month for 9 months and received Rs 15,300 as the maturity

value. The interest received by him is

(a) Rs 1700

(b) Rs 1950

(c) Rs 1800

(d) Rs1900

iii) Naveen deposits Rs. 800 every month in a recurring deposit account for 6 months. If he

receives Rs. 4884 at the time of maturity, then the interest he earns is:

(a) Rs. 84

(b) Rs. 42

(c) Rs. 24

(d) Rs. 284

iv) Radha deposited Rs 400 per month in a recurring deposit account for 18 months.

The qualifying sum of money for the calculation of interest is:

1
a. Rs 3600

b. Rs 7200

c. Rs 68,400

d. Rs 1,36,800

v) Mrs. Asha Mehta deposit Rs 250 per month for one year in a bank's recurring deposit

account. If the rate of (simple) interest is 8% per annum, then the interest earned by her on

this account is

a. Rs 65
b. Rs 120
c. Rs 130
d. Rs 260
Question 2

(i) Ritwik deposits Rs 1600 per month for 18 months in a recurring deposit account. If he

gets Rs 31080 at the time of maturity. Find:

a. The total interest earned by Ritwik

b. The rate of interest per annum (4)

(ii) David has a recurring deposit in a bank for 2 years at 6% per annum. If he gets Rs 1200

as interest at the time of maturity, Find :

a. the monthly instalment.

b. the amount of maturity. (4)

(iii) A man deposits Rs 900 per month in a recurring deposit account for 2 years. If he gets

Rs 1800 as interest at the time of maturity, find:

a. the rate of interest.

b. the maturity value. (4)

2
Question 3

(i) Amit has a recurring deposit account in a bank for 3 years at 7.5 % p.a. simple interest. If

he gets Rs 8325 as interest at the time of maturity. Find

a. the monthly deposit

b. the maturity value (4)

(ii) Salman deposits Rs. 1000 every month in a recurring deposit account for 2 years. If he

receives Rs. 26000 on maturity, find:

a. The total interest Salman earns.

b. The rate of interest. (4)

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