M l aggarwal understanding icse mathematics class 10 Solutions for Chapter 2 banking

Exercises in Chapter 2 banking Grade 10

Banking Exercise 1

Banking Exercise 2

Questions in Banking Exercise 1

Shweta deposits ₹ 350 per month in a recurring deposit account for one year at the rate of 8% p.a. Find

the amount she will receive at the time of maturity.

Saloni deposited ₹ 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?

Mrs. Goswami deposits ₹ 1000 every month in a recurring deposit account for 3 years at 8% interest per

annum. Find the matured value.

Kiran deposited ₹ 200 per month for 36 months in a bank’s recurring deposit account. If the banks pay

interest at the rate of 11% per annum, find the amount she gets on maturity?

Joseph deposits ₹ 600 per month in a recurring deposit account in a post office for 4 ½ years. Find the

amount payable to him on maturity, if the rate of interest is 9% per annum.

Haneef has a cumulative bank account and deposits ₹ 600 per month for a period of 4 years. If he gets ₹5590 as interest at the time of maturity, find the rate of interest per annum.

David opened a Recurring Deposit Account in a bank and deposited ₹ 300 per month for two years. If he

received ₹ 7725 at the time of maturity, find the rate of interest per annum.

Mr. Gupta opened a recurring deposit account in a bank. He deposited ₹ 2500 per month for two years.

At the time of maturity he got ₹ 67500. Find:

(i) the total interest earned by Mr. Gupta.

(ii) the rate of interest per annum.

Shahrukh opened a Recurring Deposit Account in a bank and deposited ₹ 800 per month for 1 ½ years.

If he received ₹ 15084 at the time of maturity, find the rate of interest per annum.

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets ₹

1200 as interest at the time of maturity, find

(i) the monthly installment.

(ii) the amount of maturity.

Mr. R. K. Nair gets ₹ 6455 at the end of one year at the rate of 14% per annum in a recurring deposit

account. Find the monthly installment.

Samita has a recurring deposit account in a bank of ₹ 2000 per month at the rate of 10% p.a. If she gets

₹ 83100 at the time of maturity, find the total time for which the account was held.

Questions in Banking Exercise 2

Mr. Dhruv deposits ₹ 600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.

Ankita started paying ₹ 400 per month in a 3 years recurring deposit. After six months her brother Anshul started paying ₹ 500 per month in a 2 ½ year recurring deposit. The bank paid 10% p.a. simple interest for both. At maturity who will get more money and by how much?

Shilpa has a 4-year recurring deposit account in Bank of Maharashtra and deposits ₹ 800 per month. If she gets ₹ 48200 at the time of maturity, find

(i) the rate of simple interest,

(ii) the total interest earned by Shilpa

Mr. Chaturvedi has a recurring deposit account in Grindlay’s Bank for 4 ½ years at 11% p.a. (simple interest). If he gets Rs 101418.75 at the time of maturity, find the monthly installment.

Rajiv Bhardwaj has a recurring deposit account in a bank of ₹ 600 per month. If the bank pays a simple interest of 7% p.a. and he gets ₹ 15450 as maturity amount, find the total time for which the account was held.