## ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2

Question 1.

Shweta deposits Rs. 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.

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Question 2.

Salom deposited Rs 150 per month in a bank for 8 months under the Recurring Deposit Scheme. ‘What will be the maturity value of his deposit if the rate of interest is 8% per annum?

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Question 3.

Mrs Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value. (2009)

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Question 4.

Kiran deposited Rs. 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?

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Question 5.

Haneef has a cumulative bank account and deposits Rs. 600 per month for a period of 4 years. If he gets Rs. 5880 as interest at the time of maturity, find the rate of interest.

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Question 6.

David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7725 at the time of maturity, find the rate of interest per annum. (2008)

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Question 7.

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. 67500. Find :

(i) the total interest earned by Mr Gupta.

(ii) the rate of interest per annum.

Solution:

Question 8.

Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs 800 per month for \(1 \frac { 1 }{ 2 } \) years. If he received Rs 15084 at the time of maturity, find the rate of interest per annum.

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Question 9.

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. (2016)

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Question 10.

Mr R.K. Nair gets Rs 6,455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly instalment.

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Question 11.

Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of 10% p.a. If she gets Rs 83100 at the time of maturity. Find the total time for which the account was held.

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