Quiz about Banking

Question 1

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.

Accepted Answer

Covalent bond

Answer

$$7 \%$$ p.a.

Answer

$$9 \%$$ p.a.

Answer

$$8 \%$$ p.a.

Answer

$$10 \%$$ p.a.

Question 2

Amit deposited $$Rs.~ 150$$ per month in a bank for $$8$$ months under the Recurring Deposits 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 ?

Accepted Answer

Covalent bond

Answer

$$Rs 1,236$$

Answer

$$Rs 1,591$$

Answer

$$Rs 1,091$$

Answer

$$Rs 1,915$$

Banking Icse Class 10 Maths Problems and Solutions

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